Lones Smith

University of Wisconsin at Madison - Department of Economics

Professor

1180 Observatory Drive

Madison, WI 53706-1393

United States

http://www.lonessmith.com

  • University of Wisconsin at Madison - Department of Economics

    • Email
    • Tel: 608-263-3871
    • Fax: 608-262-2033
SCHOLARLY PAPERS

40

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6,362

SSRN CITATIONS
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in Total Papers Citations

170

CROSSREF CITATIONS

118

Scholarly Papers (40)

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1.

Search at the Margin

American Economic Review, Forthcoming
Number of pages: 39 Posted: 28 Jun 2015 Last Revised: 02 May 2017
Jose Carrasco and Lones Smith
Escuela de Negocios, Universidad Adolfo Ibañez and University of Wisconsin at Madison - Department of Economics
Downloads 558 (83,025)
Citation 2

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Search Theory, Dynamic Programming

2.

Rational Social Learning by Random Sampling

Number of pages: 22 Posted: 28 May 2008 Last Revised: 09 Jul 2013
Lones Smith and Peter Norman Sorensen
University of Wisconsin at Madison - Department of Economics and University of Copenhagen - Department of Economics
Downloads 515 (91,659)
Citation 34

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herding, cascades, Polya urns, martingales

3.

The Economics of Counterfeiting

Econometrica, Forthcoming
Number of pages: 23 Posted: 11 Jan 2009 Last Revised: 22 Dec 2014
Elena Quercioli and Lones Smith
University of Texas - Pan American - College of Business Administration - Department of Economics & Finance and University of Wisconsin at Madison - Department of Economics
Downloads 509 (93,039)
Citation 10

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counterfeiting, supermodular games, log-concavity, passed money, seized money

4.

Student Portfolios and the College Admissions Problem

Number of pages: 46 Posted: 20 Mar 2009 Last Revised: 11 Mar 2013
Hector Chade, Gregory Lewis and Lones Smith
Arizona State University (ASU) - Economics Department, Harvard University and University of Wisconsin at Madison - Department of Economics
Downloads 334 (150,917)
Citation 28

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5.

The Marriage Model with Search Frictions

Downloads 318 (159,057)
Citation 34

The Marriage Model with Search Frictions

Number of pages: 24 Posted: 27 Jun 1997
Lones Smith
University of Wisconsin at Madison - Department of Economics
Downloads 318 (158,034)
Citation 34

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The Marriage Model With Search Frictions

Journal of Political Economy, Vol. 114, pp. 1124-1144, December 2006
Posted: 12 Dec 2006
Lones Smith
University of Wisconsin at Madison - Department of Economics

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6.

Informational Herding and Optimal Experimentation

MIT Department of Economics Working Paper No. 22, Cowles Foundation Discussion Paper No. 1552
Number of pages: 40 Posted: 30 Jan 2006
Lones Smith and Peter Norman Sorensen
University of Wisconsin at Madison - Department of Economics and University of Copenhagen - Department of Economics
Downloads 293 (173,369)
Citation 1

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7.

Repeated Games with Present-Biased Preferences

Downloads 281 (181,063)
Citation 10

Repeated Games with Present-Biased Preferences

Cowles Foundation Discussion Paper No. 1555
Number of pages: 25 Posted: 20 Feb 2006
Hector Chade, Pavlo Prokopovych and Lones Smith
Arizona State University (ASU) - Economics Department, Kyiv School of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 209 (240,787)
Citation 1

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Hyperbolic discounting, quasi-geometric discounting, repeated games, admissibility, continuation values

Repeated Games with Present-Biased Preferences

Journal of Economic Theory, Forthcoming
Number of pages: 30 Posted: 03 Oct 2007
Hector Chade, Pavlo Prokopovych and Lones Smith
Arizona State University (ASU) - Economics Department, Kyiv School of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 72 (539,098)
Citation 2

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Hyperbolic discounting, quasi-geometric discounting, repeated games, admissibility, continuation values

8.

The Optimal Level of Experimentation

Downloads 269 (189,198)
Citation 25

The Optimal Level of Experimentation

Number of pages: 20 Posted: 25 Jan 2001
Giuseppe Moscarini, Giuseppe Moscarini and Lones Smith
Yale University - Department of EconomicsCowles Foundation for Research in Economics and University of Wisconsin at Madison - Department of Economics
Downloads 164 (299,220)
Citation 27

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The Optimal Level of Experimentation

Number of pages: 20 Posted: 28 Jun 1998
Giuseppe Moscarini, Giuseppe Moscarini and Lones Smith
Yale University - Department of EconomicsCowles Foundation for Research in Economics and University of Wisconsin at Madison - Department of Economics
Downloads 105 (423,816)
Citation 2

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9.

The Law of Large Demand for Information

Downloads 264 (192,795)
Citation 5

The Law of Large Demand for Information

Number of pages: 21 Posted: 09 Jun 2000
Lones Smith, Giuseppe Moscarini and Giuseppe Moscarini
University of Wisconsin at Madison - Department of Economics and Yale University - Department of EconomicsCowles Foundation for Research in Economics
Downloads 151 (320,992)

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The Law of Large Demand for Information

Number of pages: 18 Posted: 25 Mar 2002
Giuseppe Moscarini, Giuseppe Moscarini and Lones Smith
Yale University - Department of EconomicsCowles Foundation for Research in Economics and University of Wisconsin at Madison - Department of Economics
Downloads 113 (401,740)
Citation 2

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10.

The Demand for Information: More Heat than Light

Number of pages: 37 Posted: 24 Feb 2005
Jussi Keppo, Giuseppe Moscarini, Giuseppe Moscarini and Lones Smith
National University of Singapore - NUS Business School, Yale University - Department of EconomicsCowles Foundation for Research in Economics and University of Wisconsin at Madison - Department of Economics
Downloads 245 (207,509)
Citation 3

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Value of information, Non-concavity, Heat equation, Demand, Bayesian analysis

11.

Optimal Sequential Search Among Alternatives

Number of pages: 48 Posted: 26 Oct 2016 Last Revised: 03 Feb 2020
Michael Choi and Lones Smith
University of California, Irvine and University of Wisconsin at Madison - Department of Economics
Downloads 222 (228,217)
Citation 3

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sequential and nonstationary search, duration, logconcavity, dispersion, accuracy

12.

Assortative Matching, Reputation, and the Beatles Breakup

U of Michigan Working Paper No. 2001-4
Number of pages: 23 Posted: 04 Dec 2001
Axel Anderson and Lones Smith
Georgetown University - Department of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 211 (239,252)
Citation 2

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assortative matching, supermodularity, convexity, value function

13.

Greed, Fear, and Rushes

Number of pages: 43 Posted: 04 Jun 2013 Last Revised: 27 Feb 2015
Axel Anderson, Andreas Park and Lones Smith
Georgetown University - Department of Economics, University of Toronto and University of Wisconsin at Madison - Department of Economics
Downloads 187 (267,007)

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Timing Games, Unraveling, Runs, Games with Many Players, Pre-emption, War of Attrition

14.

Optimal Electoral Timing: Exercise Wisely and You May Live Longer

Cowles Foundation Discussion Paper No. 1565
Number of pages: 43 Posted: 10 May 2006 Last Revised: 05 Oct 2007
Jussi Keppo, Lones Smith and Dmitry Davydov
National University of Singapore - NUS Business School, University of Wisconsin at Madison - Department of Economics and Goldman Sachs Group, Inc. - Equities Risk Management
Downloads 174 (285,855)
Citation 3

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American option, optimal stopping

15.

Time-Consistent Optimal Stopping

Number of pages: 4 Posted: 08 May 1997
Lones Smith
University of Wisconsin at Madison - Department of Economics
Downloads 158 (308,528)

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16.

Ordinal Aggregation Results via Karlin's Variation Diminishing Property

Number of pages: 13 Posted: 05 Sep 2014 Last Revised: 26 Jan 2017
Michael Choi and Lones Smith
University of California, Irvine and University of Wisconsin at Madison - Department of Economics
Downloads 155 (313,609)
Citation 6

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single-crossing property, quasi-concavity, variation diminishing property, logsupermodularity, signed-ratio monotonicity

17.

Do Rational Traders Frenzy?

Number of pages: 42 Posted: 22 Jun 1997
Lones Smith
University of Wisconsin at Madison - Department of Economics
Downloads 155 (313,609)
Citation 2

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18.

Unattainable Payoffs for Repeated Games of Private Monitoring

Number of pages: 24 Posted: 02 Jul 2009 Last Revised: 11 May 2010
Josh Cherry and Lones Smith
University of Michigan at Ann Arbor - Department of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 153 (317,157)
Citation 3

Abstract:

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Repeated Games, Private Monitoring, Correlated Equilibrium

19.

Counterfeit Money

Encyclopedia of Law and Economics, edited by Juergen Backaus, Springer New York, Forthcoming
Number of pages: 9 Posted: 22 Dec 2014
Lones Smith and Elena Quercioli
University of Wisconsin at Madison - Department of Economics and University of Texas - Pan American - College of Business Administration - Department of Economics & Finance
Downloads 137 (346,355)

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Deception games, seized money, passed money

20.

Assortative Matching and Reputation

Cowles Foundation Discussion Paper No. 1553
Number of pages: 41 Posted: 03 Feb 2006
Axel Anderson and Lones Smith
Georgetown University - Department of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 134 (352,366)

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Supermodularity, assortative matching, learning

21.

A Portrait of the Artist as a Young, Middle-Aged, and Elderly Man

Number of pages: 21 Posted: 16 Feb 2020
Lones Smith and Geoffrey R. Lanyon
University of Wisconsin at Madison - Department of Economics and affiliation not provided to SSRN
Downloads 126 (369,063)

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22.

Dynamic Deception

Number of pages: 48 Posted: 10 Jan 2012 Last Revised: 27 Nov 2012
Axel Anderson and Lones Smith
Georgetown University - Department of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 126 (369,063)
Citation 3

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Asymmetric Information, Reputation, Repeated Games, Continuous Time Games, Constant Sum

23.

Simultaneous Search

Cowles Foundation Discussion Paper No. 1556
Number of pages: 17 Posted: 20 Feb 2006
Hector Chade and Lones Smith
Arizona State University (ASU) - Economics Department and University of Wisconsin at Madison - Department of Economics
Downloads 122 (378,066)
Citation 26

Abstract:

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Search, submodular, portfolio

24.

Aspirational Bargaining

U of Michigan Economics Working Paper No. 2002-01
Number of pages: 32 Posted: 29 Jan 2002
Lones Smith and Ennio Stacchetti
University of Wisconsin at Madison - Department of Economics and Leonard N. Stern School of Business - Department of Economics
Downloads 120 (382,726)
Citation 7

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bargaining, subgame perfection, refinement, aspirations, temporal monopoly, martingale

25.

Optimal Sequential Search

Number of pages: 37 Posted: 02 Mar 2020
Michael Choi and Lones Smith
University of California, Irvine and University of Wisconsin at Madison - Department of Economics
Downloads 113 (399,707)

Abstract:

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sequential and nonstationary search, duration, logconcavity, dispersion

26.

Caller Number Five: Timing Games that Morph from One Form to Another

Cowles Foundation Discussion Paper No. 1554
Number of pages: 25 Posted: 19 May 2005
Andreas Park and Lones Smith
University of Toronto and University of Wisconsin at Madison - Department of Economics
Downloads 92 (460,361)
Citation 3

Abstract:

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Games of timing, war of attrition, preemption game

27.

Strategically Rational Risk Taking by Age in COVID-19, and the Heterogeneous Agent Behavioral SIR Model

Number of pages: 14 Posted: 05 Mar 2021
Siamak Javadi, Elena Quercioli and Lones Smith
University of Texas - Rio Grande Valley, University of Texas Rio Grande Valley (UTRGV) (Formerly University of Texas-Pan American) and University of Wisconsin at Madison - Department of Economics
Downloads 87 (476,518)

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COVID-19, random matching, Bayes Nash equilibrium

28.

Optimal Sequential Search with Recall

Number of pages: 43 Posted: 25 Jul 2022
Michael Choi and Lones Smith
University of California, Irvine and University of Wisconsin at Madison - Department of Economics
Downloads 82 (493,968)
Citation 1

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sequential and nonstationary search, duration, logconcavity, dispersion

29.

A Conversational War of Attrition

Number of pages: 49 Posted: 02 Oct 2013 Last Revised: 05 Apr 2017
Katalin Bognar, Moritz Meyer-ter-Vehn and Lones Smith
Independent, University of California, Los Angeles (UCLA) and University of Wisconsin at Madison - Department of Economics
Downloads 71 (540,471)
Citation 3

Abstract:

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cheap talk, committee decision making, pivot voting, juries, adversarial system, peremptory challenges, debate, deliberation, polarization, devil's advocate, monotone comparative statics, war of attrition, nonlinear difference equations

30.

The Comparative Statics of Sorting

Number of pages: 46 Posted: 04 Jun 2019 Last Revised: 17 Jun 2021
Axel Anderson and Lones Smith
Georgetown University - Department of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 63 (571,100)
Citation 1

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Matching, Sorting, Monotone Comparative Statics

31.

Strategically Valuable Information

Number of pages: 16 Posted: 26 Jan 2016
Josh Cherry and Lones Smith
University of Michigan at Ann Arbor - Department of Economics and University of Wisconsin at Madison - Department of Economics
Downloads 52 (625,409)
Citation 5

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Correlated Equilibrium, Blackwell's Theorem, Value of Information

32.

Contagious Matching Games

Number of pages: 10 Posted: 01 Jul 2020 Last Revised: 01 Mar 2021
Elena Quercioli and Lones Smith
University of Texas Rio Grande Valley (UTRGV) (Formerly University of Texas-Pan American) and University of Wisconsin at Madison - Department of Economics
Downloads 36 (722,816)
Citation 3

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SIR model, pairwise matching, Nash equilibrium

33.

Frictional Matching Models

Annual Review of Economics, Vol. 3, pp. 319-338, 2011
Posted: 31 Aug 2011
Lones Smith
University of Wisconsin at Madison - Department of Economics

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34.

Assortative Matching and Search

Posted: 26 Jul 2000
Robert Shimer and Lones Smith
University of Chicago - Department of Economics and University of Wisconsin at Madison - Department of Economics

Abstract:

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35.

A Graphical Depiction of the Rubinstein-Stahl Bargaining Solution

Posted: 02 Dec 1998
Lones Smith
University of Wisconsin at Madison - Department of Economics

Abstract:

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36.

Informational Herding as Experimentation Deja Vu

MIT, Department of Economics, Working Paper No. 96-9
Posted: 02 Dec 1998
Lones Smith and Peter Norman Sorensen
University of Wisconsin at Madison - Department of Economics and University of Copenhagen - Department of Economics

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37.

On the Irrelevance of Trade Timing

MIT Department of Economics Working Paper No.96-6
Posted: 16 Nov 1998
Lones Smith
University of Wisconsin at Madison - Department of Economics

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38.

Pathological Outcomes of Observational Learning

MIT Dept of Economics Working Paper No. 96-19
Posted: 03 Sep 1997
Lones Smith and Peter Norman Sorensen
University of Wisconsin at Madison - Department of Economics and University of Copenhagen - Department of Economics

Abstract:

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39.

Private Information and Trade Timing

Posted: 23 Jul 1997
Lones Smith
University of Wisconsin at Madison - Department of Economics

Abstract:

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40.

Social Learning in a Changing World

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Social Learning in a Changing World

MIT Dept. of Economics Working Paper #96-34
Posted: 30 Jun 1997
Giuseppe Moscarini, Giuseppe Moscarini, Marco Ottaviani and Lones Smith
Yale University - Department of EconomicsCowles Foundation for Research in Economics, Bocconi University - Department of Economics and University of Wisconsin at Madison - Department of Economics

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Social Learning in a Changing World

Posted: 12 Aug 1998
Giuseppe Moscarini, Giuseppe Moscarini, Marco Ottaviani and Lones Smith
Yale University - Department of EconomicsCowles Foundation for Research in Economics, Bocconi University - Department of Economics and University of Wisconsin at Madison - Department of Economics

Abstract:

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