Asher Wolinsky

Gordon Fulcher Professor of Economics. Research addresses oligopolistic competition under asymmetric information, bargaining theory and its applications, theory of the firm, markets for credence goods, search markets, auction markets, networks, voting models with vote trading, and implementation theory. Contributed to the theory of decentralized markets with information and communication frictions. One strand of this work deals with decentralized markets in which the terms of transactions are determined in bargaining, and introduced a strategic bargaining component into market models. The explicit modeling of the bargaining led to new insights concerning the manner in which fundamental conditions shape the prices and the allocation of resources in such markets. Another strand concerns decentralized markets with asymmetric information. This work provided the first steps in the program of introducing asymmetric information into decentralized search markets. Contributions here range from more abstract explorations of information aggregation by equilibrium prices to more applied questions concerning the modeling of markets of credence goods and services. A third strand addresses the modeling of economic networks.