Brookings: Experts - H. Peyton Young

Why Geithner’s Plan is the Taxpayers’ Curse

Wed, 01 Apr 2009 00:00:00 GMT

H. Peyton Young shows that the Geithner proposal for pricing toxic assets is a peculiar type of auction in which the taxpayer is cursed by competition among the buyers. The more that investors compete, the lower are the expected returns for the taxpayers. Naturally, the windfall goes to the banks.

The Not-So-Real-McCoy: Fake Alpha and the Need for Hedge Fund Transparency

Wed, 17 Dec 2008 00:00:00 GMT

Based on the 2008 working paper, "The Hedge Fund Game," Peyton Young and co-author Dean P. Foster show how surprisingly easy it is for unskilled managers to create “fake” alpha, mimicking the returns of their more skilled and scrupulous peers. The only way to protect the industry, the authors argue, is through greater transparency.

The Hedge Fund Game

Wed, 24 Sep 2008 00:00:00 GMT

In the latest version of Dean Foster and Peyton Young’s paper, the authors show that it is extremely difficult to devise incentive schemes that distinguish between fund managers who cannot deliver excess returns from those who can, unless investors have specific knowledge of the investment strategies being employed.

Understanding Strategic Learning through Game Theory and Agent-Based Modeling

Sun, 13 Jul 2008 00:00:00 GMT

Peyton Young addresses his recent game theory and agent-based modeling work in the Presidential Address to the World Congress of the Game Theory Society at Northwestern University.

Investors Need More Hedge Fund Transparency

Mon, 14 Jan 2008 00:00:00 GMT

H. Peyton Young suggests that investors should insist on greater transparency on dealing with bankers’ compensation schemes.

Hedge Fund Wizards

Wed, 19 Dec 2007 00:00:00 GMT

While many of the latest hedge fund casualties are linked to the subprime mortgage crisis, Dean P. Foster and H. Peyton Young suggest that investors should not be lulled into thinking that the problem will be solved once the mortgage mess is mopped up.

Innovation Diffusion in Heterogeneous Populations: Contagion, Social Influence, and Social Learning

Wed, 31 Oct 2007 00:00:00 GMT

H. Peyton Young analyzes the effect of incorporating heterogeneity into three broad classes of models -- contagion, social influence, and social learning.

Social Norms and Public Policy

Wed, 31 Oct 2007 00:00:00 GMT

H. Peyton Young suggest that differences in social norms may help to explain puzzling differences in group behavior that are not readily attributable to differences in income, tastes, and other individual characteristics.

Obesity and the Influence of Others

Tue, 21 Aug 2007 00:00:00 GMT

Op-ed by Carol Graham, Ross A. Hammond and H. Peyton Young (08/21/07)

The Possible and the Impossible in Multi-Agent Learning

Sun, 01 Apr 2007 00:00:00 GMT

Peyton H. Young surveys work on learning in games and delineates the boundary between forms of learning that lead to Nash equilibrium and forms that lead to weaker notions of equilibrium (or none at all).

Innovation Diffusion in Heterogeneous Populations

Fri, 01 Dec 2006 00:00:00 GMT

People may realize different benefits and costs from the innovation, or have different beliefs about its benefits and costs, hear about it at different times, or delay in acting on their information. Peyton H. Young analyzes the dynamics arising from different sources of heterogeneity in a completely general setting without placing parametric restrictions on the distribution of the relevant characteristics.

The Spread of Innovations through Social Learning

Thu, 01 Dec 2005 00:00:00 GMT

CSED Working Paper #43 by Peyton H. Young (December 2005)

Social Dynamics: Theory and Applications

Fri, 01 Apr 2005 00:00:00 GMT

CSED Working Paper No. 39, by H. Peyton Young (April 2005)

Ignorance Fills the Income Gulf

Mon, 23 Jun 2003 00:00:00 GMT

Opinion by Carol Graham and Peyton Young, Boston Globe (6/23/03)

Dividing the House: Why Congress Should Reinstate an Old Reapportionment Formula

Wed, 01 Aug 2001 00:00:00 GMT

The formula used to allocate the 435 seats among the states, a peculiar method first adopted in 1941, violates the principle of one person, one vote by systematically giving more representation to residents of small states than to residents of large

Fair Representation : Meeting the Ideal of One Man, One Vote

Wed, 28 Mar 2001 00:00:00 GMT

The issue of fair representation will take center stage as U.S. congressional districts are reapportioned based on the 2000 Census. Using U.S. history as a guide, the authors develop a theory of fair representation that establishes various principles

The Margin of Error in the Florida Recount

Wed, 01 Nov 2000 00:00:00 GMT

Article by Peyton Young (November 2000)

The Emergence of Classes in a Multi-Agent Bargaining Model

Tue, 01 Feb 2000 00:00:00 GMT

The Emergence of Classes in a Multi-Agent Bargaining Model

Social Security : What Role for the Future?

Mon, 22 Jan 1996 00:00:00 GMT

This book book focuses on questions essential to understanding the future of old-age protection under Social Security. Experts in economics, actuarial science, and public policy examine the effects that variables such as mortality, births, inflation,