From Mining to Markets: The Evolution of Bitcoin Transaction Fees, with Maureen O'Hara and Soumya Basu, Journal of Financial Economics, 134(1), October 2019.
A Case for Incomplete Markets, with Lawrence Blume, Timothy Cogley, Thomas J. Sargent and Viktor Tsyrennikov, Journal of Economic Theory, 178, November 2018.
Differential Access to Price Information in Financial Markets, with Maureen O'Hara and Liyan Yang, Journal of Financial and Quantitative Analysis, 51.4, 1071-111, 2016. Winner of the William F. Sharpe Award for Scholarship in Financial Research, 2017.
Discerning Information from Trade Date, with Marcos Lopez de Prado and Maureen O'Hara, Journal of Financial Economics, 20.2 , 269-285, 2016.
Incentives, Gamification, and Game Theory: An Economic Approach to Badge Design, with Arpita Ghosh, Proceedings of the fourteenth ACM Conference on Electronic Commerce, 359-376, 2013; and in ACM Transactions on Economics and Computation, 4(3), 2016.
Introduction to the Special Issue on EC'14, with Vince Conitzer, ACM Transactions on Economics and Computation, 4 (4), 2016.
Loss Aversion, Survival and Asset Prices, with Liyan Yang, Journal of Economic Theory, 160, 494-516, 2015.
Optimal Execution Horizon, with Marcos Lopez de Prado and Maureen O'Hara, Mathematical Finance, 25, 640-672, 2015.
Behavioral Mechanism Design: Optimal Crowdsourcing Contracts and Prospect Theory, with Arpita Ghosh, Proceedings of the fifteenth ACM Conference on Economics and Computation, EC'15
Introduction to Computer Science and Economic Theory, with Lawrence Blume, Jon Kleinberg, Robert Kleinberg and Eva Tardos, Journal of Economic Theory, 156, 1-13, 2015.
Opaque Trading, Disclosure and Asset Prices: Implications for Hedge Fund Regulation, with Maureen O'Hara and Liyan Yang, Review of Financial Studies, 27 (4), 1190-1237, 2014.
VPIN and the Flash Crash: A Rejoinder, with Marcos Lopez de Prado and Maureen O'Hara, Journal of Financial Markets, 17, 47-52, 2014.
Levelling the Trading Field, with Terry Hendershott and Tarun Ramadorai, Journal of Financial Markets, 17, 65-93, 2014.
Incentives, Gamification, and Game Theory: An Economic Approach to Badge Design, with Arpita Ghosh, Proceedings of the fourteenth ACM Conference on Electronic Commerce, 359-376, 2013.
Network Formation in the Presence of Contagious Risk, with Lawrence Blume, Jon Kleinberg, Robert Kleinberg and Eva Tardos, ACM Transactions on Economics and Computation, 1, 2, 6:1-6:20, May 2013.
The Volume Clock: Insights into the High Frequency Paradigm," with Marcos Lopez de Prado and Maureen O'Hara, Journal of Portfolio ManagementVol. 39, No. 1: pp. 19-29, Fall 2012.
Flow Toxicity and Volatility in a High Frequency World, with Marcos Lopez de Prado and Maureen O'Hara, Review of Financial Studies, 25, 5, 1457-93, 2012.
Which Networks Are Least Susceptible to Cascading Failures?, with Lawrence Blume, Jon Kleinberg, Robert Kleinberg, Eva Tardos, Proc. 52nd IEEE Symposium on Foundations of Computer Science, 2011.
The Characteristics of Informed Trading: Implications for Asset Pricing, with Hadiye Aslan, Soeren Hvidkjaer and Maureen O'Hara, Journal of Empirical Finance, 18, 5, 782-801, 2011.
Network Formation in the Presence of Contagious Risk, with Lawrence Blume, Jon Kleinberg, Robert Kleinberg and Eva Tardos, Proc. ACM Conference on Electronic Commerce (EC2011), 2011.
The Exchange of Flow Toxicity, with Marcos Lopez de Prado and Maureen O'Hara, Journal of Trading, Spring, 2011.
The Microstructure of the "Flash Crash": Flow Toxicity, Liquidity Crashes, and the Probability of Informed Trading, with Marcos Lopez de Prado and Maureen O'Hara, Journal of Portfolio Management, Winter, 2011.
Heterogeneity, Selection and Wealth Dynamics, with Lawrence Blume, Annual Reviews of Economics, 2, 425-450, 2010.
Factoring Information into Returns, with Soeren Hvidkjaer and Maureen O'Hara, Journal of Financial and Quantative Analysis, 45, 293-309, 2010.
Microstructure and Ambiguity, with Maureen O'Hara, Journal of Finance, 65, 1817-1846, 2010.
Liquidity and Valuation in an Uncertain World, with Maureen O'Hara, Journal of Financial Economics, 97, 1-12, July 2010.
Trading Networks with Price-Setting Agents, with Lawrence Blume, Jon Kleinberg and Eva Tardos, Games and Economic Behavior, 67, 36-50, September 2009.
Ambiguity and Nonparticipation: The Role of Regulation, with Maureen O'Hara, Review of Financial Studies, 22, 1817 - 1843, May 2009.
The Market Organism: Long Run Survival in Markets with Heterogeneous Traders, with Lawrence Blume, Journal of Economic Dynamics and Control, Vol 33, Issue 5, 1023-1035, May 2009.
Market Selection and Asset Pricing, with Lawrence Blume, in Handbook of Financial Markets: Dynamics and Evolution, Thorsten Hens and Klaus-Schenk Hoppe, eds., Elsevier, January 2009.
Market Competition and Selection, with Lawrence Blume, in The New Palgrave Dictionary of Economics 2nd Edition, Palgrave Macmillan, 2008.
Rationality, with Lawrence Blume, in The New Palgrave Dictionary of Economics 2nd Edition, Palgrave Macmillan, 2008.
Time Varying Arrival Rates of Informed and Uninformed Traders, with Robert Engle, Maureen O'Hara and Liuren Wu, Journal of Financial Econometrics, 6, 171 - 207, Spring 2008.
A new start: Innovative introductory AI-centered courses at Cornell, with E. Breck, D. Fan, J. Kleinberg, L. Lee, J. Wofford, R. Zabih, Proc. AAAI Spring Symposium, 2008.
Trading Networks with Price-Setting Agents, with Lawrence Blume, Jon Kleinberg and Eva Tardos, Eighth ACM Conference on Electronic Commerce (EC2007), 2007.
Redoing the Foundations of Decision Theory, with Lawrence Blume and Joseph Halpern, Tenth International Conference on Principles of Knowledge Representation and Reasoning (KR2006), 2006.
Information, Trade and Incomplete Markets, with Lawrence Blume and Tarek Coury, Economic Theory, Vol. 29, No. 2, October, 2006.
If You're So Smart, Why Aren't You Rich: Belief Selection in Complete and Incomplete Markets, with Lawrence Blume, Econometrica, Vol. 74, No. 4, July 2006.
Rationality and Selection in Asset Markets, with Lawrence Blume, Santa Fe Institute Volume in honor of Kenneth Arrow: The Economy as an Evolving Complex System, 2005.
Optimal Guessing in Complex Environments, with Aldo Rustichini, Journal of Economic Theory, Vol. 124, No. 1, September 2005.
Information and the Cost of Capital, with Maureen O'Hara, Journal of Finance, Vol. 59, No. 4, August, 2004.
Asset Pricing and Market Microstructure, with Maureen O'Hara, in Handbook of the Economics of Finance, Elsevier Scientific Press, 2003.
Optimality and Natural Selection in Markets, with Lawrence Blume, Journal of Economic Theory, Vol. 107, No. 1, November 2002.
Is Information Risk A Determinant of Asset Prices? with Soeren Hvidjaer and Maureen O'Hara, Journal of Finance, Vol. 57, No. 1, October 2002.
How Stock Splits Affect Trading: A Microstructure Approach, with Maureen O'Hara and Gideon Saar, Journal of Financial and Quantitative Analysis, Vol. 36, 2001.
Choice Without Beliefs, with Aldo Rustichini, Econometrica, Vol. 67, No. 5, September 1999.
Financial Analysts and Information-Based Trade, with Maureen O'Hara and Joseph Paperman, Journal of Financial Markets, Vol. 1, 1998.
Rational Expectations and Rational Learning, with Lawrence Blume, in Organizations with Incomplete Information, volume in honor of Roy Radner, ed. M. Majumdar, Cambridge University Press, 1998.
Option Volume and Stock Prices: Evidence on where Informed Traders Trade, with Maureen O'Hara and P. S. Srinivas, Journal of Finance, Vol. 53, No. 2, April 1998.
One Day in the Life of a Common Stock, with Nicholas Kiefer and Maureen O'Hara, Review of Financial Studies, Vol. 10, No. 3, Fall 1997.
The Information Content of the Trading Process, with Nicholas Kiefer and Maureen O'Hara, Journal of Empirical Finance, Vol. 4, No. 2-3, June 1997.
Liquidity, Information and Infrequently Traded Stocks, with Nicholas Kiefer, Maureen O'Hara, and Joseph Paperman, Journal of Finance, Vol. 51, No. 4, September 1996.
Cream-Skimming or Profit-Sharing? The Curious Role of Purchased Order Flow, with Nicholas M. Kiefer and Maureen O'Hara, Journal of Finance, Vol. 51, No. 3, July 1996.
Market Microstructure, with Maureen O'Hara, in Handbooks in Operations Research and Management Science: Finance, R. Jarrow, V. Maksimovic and W. Ziemba, eds., North Holland, 1995.
Evolution and Rationality in Competitive Markets, with Lawrence Blume, in Essays in Learning and Rationality in Economics, A. Kirman and M. Salmon eds., Basil Blackwell Press, 1995.
What Has the Rational Learning Literature Taught Us, with Lawrence Blume, in Essays in Learning and Rationality in Economics, A. Kirman and M. Salmon eds., Basil Blackwell Press, 1995.
Market Statistics and Technical Analysis: The Role of Volume, with Lawrence Blume and Maureen O'Hara, Journal of Finance, Vol. XLIX, No. 1, March 1994.
An Equilibrium Analysis of Fiscal Policy with Uncertainty and Incomplete Markets, with Nicholas Kiefer and Uri Possen, International Economic Review, Vol. 34, No. 4, November 1993.
Economic Natural Selection, with Lawrence Blume, in Symposium on Evolution, Economic Letters, 42, 1993.
Theories of Price Formation and Exchange in Double Oral Auctions, with John Ledyard, in The Double Auction Market: Institutions, Theories and Evidence, D. Friedman and J. Rust, eds., Santa Fe Institute Studies in the Sciences of Complexity, Proceedings, Volume XV, Addison Wesley, 1993.
Evolution and Market Behavior, with Lawrence Blume, Journal of Economic Theory, Vol. 58, No. 1, 1992.
Time and the Process of Security Price Adjustment, with Maureen O'Hara, Journal of Finance, Vol. XLVII, No. 2, June 1992.
Adverse Selection and Large Trade Volume: The Implications for Market Efficiency, with Maureen O'Hara, Journal of Financial and Quantitative Analysis, Vol. 27, No. 2, June 1992.
Order Form and Information in Securities Markets, with Maureen O'Hara, Journal of Finance, Vol. 46, No. 3, 1991.
Implementation of Walrasian Expectations Equilibria, with Lawrence Blume, Journal of Economic Theory, Vol. 51, No. 1, 1990.
Optimal Learning with Endogenous Data, with Nicholas M. Kiefer, International Economic Review, Vol. 30, No. 4, 1989.
Controlling a Stochastic Process with Unknown Parameters, with Nicholas M. Kiefer, Econometrica, Vol. 56, No. 5, September, 1988.
Price, Trade Size, and Information in Securities Markets, with Maureen O'Hara, Journal of Financial Economics, 19, 1987.
Contracts and Asymmetric Information in the Theory of the Firm, with Maureen O'Hara, Journal of Economic Behavior and Organization, 9, 1988.
Preying for Time, with R. T. Masson and R. J. Reynolds, Journal of Industrial Economics, 1985. (Reprinted in Oligopoly, Competition and Welfare, Basil Blackwell Ltd.,1985).
Optimal Non-Profit Firms, with Maureen O'Hara, in The Economics of Nonprofit Institutions, S. Rose Ackerman (editor), Oxford University Press, 1986.
An Equilibrium Analysis of Optimal Unemployment Insurance and Taxation, with Nicholas M. Kiefer and Uri Possen, Quarterly Journal of Economics, 1985.
Rational Expectations Equilibrium: An Alternative Approach, with Lawrence Blume, Journal of Economic Theory, Vol.34, No. 1, October, 1984.
The Economic Role of the Nonprofit Firm, with Maureen O'Hara, Bell Journal of Economics, Autumn, 1983.
Consensus Beliefs Equilibrium and Market Efficiency" with Robert Jarrow, Journal of Finance, Vol. 38, No. 3, June, 1983.
Characterization of Optimal Plans for Stochastic Dynamic Programs, with Lawrence Blume and Maureen O'Hara, Journal of Economic Theory, Vol. 28, No. 2, December, 1982.
Introduction to the Stability of Rational Expectations Equilibrium, with Lawrence Blume and Margaret Bray, Journal of Economic Theory, Vol. 26, No. 2, April, 1982.
Learning to be Rational, with Lawrence Blume, Journal of Economic Theory, Vol. 26, No. 2, April, 1982.
Stochastic Equilibrium and Optimality with Rolling Plans, with Daniel Spulber, International Economic Review, Vol. 22, No. 1, February, 1981.
The Postal Savings System in the Depression, with Maureen O'Hara, Journal of Economic History, Vol. 39, No. 3, September, 1979.
Contact Information
David Easley
Professor
434 Uris Hall
Cornell University
Ithaca, NY 14853
E-mail: dae3@cornell.edu
Phone: (607) 255-6283
Fax: (607) 255-2818