Ali Kakhbod, PhD, MIT.
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Research        

Liquidity, Banking, Information friction, Contract

The Cash-Cap Model: A Two-State Model of Firm Dynamics
(with M. Reppen, T. Umar and H. Xing)
Keywords: Cash, Dividend, Investment, Issuance, Default, Liquidity, Risk

Heterogeneous Learning in Product Markets
(with G. Lanzani and H. Xing)
Keywords: Product markets, Learning, Asset pricing, Trading volume, Market power

Liquidity Regulation and Bank Risk Taking on the Horizon
(with J. Bosshardt and F. Saidi)
Keywords: Liquidity regulation, Bank risk taking, Insurance sector, LCR, NSFR

​Liquidity, Welfare and Transparency in Dynamic OTC markets 
(with F. Song)
​Keywords: Microstructure of asset markets,  Municipal bond, Liquidity, Trading volume,  Disclosure, Welfare

​The Bank Liquidity Channel of Financial (In)stability
(with J. Bosshardt and F. Saidi)
​Keywords: Banking,  Complexity,  GFC, Quantitative easing

Segmentation in Illiquid Markets  
(with O. Celebi and K. Li)
​Keywords: Microstructure of asset markets, Trading volume,  Market segmentation, Liquidity

Why did Firms Draw Down their Credit Lines during the COVID-19 Shutdown?  (with J. Bosshardt)
​Keywords: Credit lines, COVID-19, Liquidity, Investment 

When does introducing verifiable communication choices improve welfare?  (with U. Loginova)
​​Keywords: Communication technologies, Welfare,  Incentive, Cost structure

The Role of Managerial Protections On Bank Capital Requirements 
(with J. Bosshardt, K. Sachdeva)
​Keywords: Banking, Capital requirement, Stress testing, Managerial protections, Investment, Corporate governance

Dynamic R&D Contracting  (with K. Li) 
​
Keywords: Optimal continuous-time contract, Incentive-pay compensation

​Advising the Management: A Theory of Shareholder Engagement 
SSRN, Online Appendix
Review of Financial Studies (RFS),   Revise & Resubmit
(with U. Loginova, A. Malenko, N. Malenko)

​​Keywords: Corporate governance, Advisory voting, Advisory board, Incentive, Trading

​Information Choice and Amplification of Financial Crises   
Review of Financial Studies (RFS) 

vol 30, no. 6, 2130-2178, 2018. 
(with T. Ahnert)
Keywords: Banking, Financial crises, Information panics, Costly information acquisition, Global games

Optimal Contracting in Networks
Journal of Economic Theory (JET)

vol 183, no. 9, 1094-1153, 2019.  (with A. Jadbabaie)
Keywords: Optimal contracting, Incomplete information, Network externality, Financial networks

Dynamic Pricing in Social Networks: The Word of Mouth Effect 
Management Science (MS)

vol 64, no. 2, pp. 971-979, 2018. (with A. Ajorlou and A. Jadbabaie)
​Keywords: COASE Conjecture, Price fluctuations, Zero pricing, Information diffusion

Dynamic Price Discovery: Transparency vs. Information Design  
Games and Economic Behavior (GEB)
vol 122, no. 7, pp. 203-232, 2020. (with F. Song)

​Keywords: Information design,  Dynamic price discovery, Learning dynamics,  Heterogenous risk aversion, Market microstructure, Hedging

​Competition in Electricity Markets with Renewable Energy Sources
Energy Journal  (invited) (with Daron Acemoglu and Asu Ozdaglar)
​vol 38, no. SI1, pp. 137-155, 2018
​Keywords: Energy finance, Commodity market, Renewable energy,  Merit order effect hypothesis,  Price volatility  
- A preliminary version of this paper was accepted for presentation in  52nd Annual Allerton Conference, UIUC (Allerton'14).
​
​Selling Wind 
Energy Journal   (with I. Schneider and A. Ozdaglar)
​vol 40, no 3, pp. 167-195, 2019
​Keywords: Energy finance, Commodity market, Market power, Pricing wind, Public forecasting, Collusion 
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Market-Mechanism design, Auctions

​Book:  Resource Allocation in Decentralized Systems with Strategic Agents: An Implementation Theory Approach 
- Springer Outstanding PhD Thesis Award, 2014
​

- Winner of the Richard and Eleanor Towner Prize
​  for Distinguished Academic Achievement, 2013
 


Keywords: Full Nash Implementation, Contract, Wallrasian equilibrium, Lindahl equilibrium, Budget balance on and off equilibrium, Individual rationality, Complex Networks, Mechanism-Market design

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​Book Chapter:   Power Allocation, Spectrum Sharing, and Revenue Maximization  in Networks: An Implementation Theory Approach 
Ch. 5 in Mechanisms and Games for Dynamic Spectrum Allocation.  Editors: T. Alpcan, H. Boche, M. Honig, H. Vincent Poor Cambridge University Press, 2014.  
(with  A. Nayyar, S. Sharma and D. Teneketzis)

Keywords: Full Nash Implementation, Auction, Contract, Complex Networks, Mechanism-Market design

​An Efficient Game Form for Unicast Service Provisioning
IEEE Transactions on Automatic Control (TAC) vol.  57, no. 2,  2012. (with D. Teneketzis) 
- A preliminary version of this paper was accepted for presentation in 
  
47th Annual Allerton Conference, UIUC, (Allerton'09).

Keywords: Full Nash Implementation, Market mechanisms, Wallrasian equilibrium, Complex Networks, Mechanism-Market design

Power Allocation and Spectrum Sharing in Multiuser Multichannel Systems with Strategic Users 
IEEE Transactions on Automatic Control (TAC)  vol. 57, no. 5, 2012. (with D. Teneketzis)
- A preliminary version of this paper was accepted for presentation in 
  
49th Conference on Decision and Control, (CDC2010).

Keywords: Full Nash Implementation, Public good mechanisms, Lindahl equilibrium, Budget balance on and off equilibrium, Individual rationality, Contract

Pay To Bid Auctions: To bid or not to bid
Operations Research Letters (ORL) 
vol 41, no 5, 2014. [Extended version with re-entry effects]
Keywords:  Dynamic Auction, Pay to bid auctions, Risk loving bidders, Entry and re-entry effect

An Efficient Game Form for Multi-rate Multicast Service Provisioning
IEEE Journal on Selected Areas in Communications (JSAC)
Lead article in the Special issue on "Network Economics" 
​vol. 30, no. 11,  2012. (with D. Teneketzis) 


Keywords: Nash Implementation, Public good/Market mechanisms, Lindahl/Wallrasian equilibrium, Budget balance on and off equilibrium, Individual rationality, Contract

Shannon capacity, Entropy cost, Discrete optimization 

Tight Bounds On the Redundancy of Huffman codes  
IEEE Transactions on Information Theory (IT)  
vol. 58, no. 11, 2012. (with S. Mohajer, P. Pakzad)

Keywords: A proof to the YE & YEUNG Conjecture with extensions, Huffman coding, Information (Shannon) theory, Probability theory

Anti-Uniform Huffman Codes 
IET Communications
vol. 5, 2012. (with S. Mohajer)

Keywords: Information (Shannon) theory, AUH codes, Huffman coding

On the construction of prefix-free and fix-free codes with specified codeword compositions 
Discrete Applied Mathematics (DAM)
vol. 159, 2011. (with M. Zadimoghaddam)

Keywords: A proof to the CARTER & GILL Conjecture for distinct codes,  Approximation algorithm 

On Describing the Routing Capacity Regions of Networks 
Mathematical Methods of Operations Research (MMOR)
vol. 72, 2012. (with S. M. S. Yazdi)

Keywords: Complexity theory, Probabilistic methods, Fourier–Motzkin elimination, Farkas lemma, Japanese theorem

Book Chapter:  On the Routing Capacity Regions of Networks  
​iConcept press. (with S. M. S. Yazdi)
Keywords: Discrete optimization, Farkas lemma, Japanese theorem, Complexity theory, Probabilistic methods, Network capacity



Last Update: Oct 2020