Published Papers

Published Papers

Econometrica
Economic Theory

Implementation via Information Design in Binary‐Action Supermodular Games

Econometrica, Forthcoming
Stephen Morris, Daisuke Oyama and Satoru Takahashi,
Japanese Economic Review
Economic Theory

Strict Robustness to Incomplete Information

Japanese Economic Review
Stephen Morris, Daisuke Oyama and Satoru Takahashi
June 2023
Journal of the European Economic Association
Economic Theory

Inspiring Regime Change

Journal of the European Economic Association, Volume 21, Issue 6 2635-2681
Stephen Morris and Mehdi Shadmehr
The American Economic Review 4, 371-388
Economic Theory, Industrial Organization

Optimal Information Disclosure in Auctions

American Economic Review 4, 371-388
Dirk Bergemann, Tibor Heumann, Stephen Morris, Constantine Sorokin and Eyal Winter
September 2022
Cover of the Review of Economic Studies
Economic Theory

Coordination and Continuous Stochastic Choice

The Review of Economic Studies 89, 2687-2722
Stephen Morris and Ming Yang
October 2022
The American Economic Review
Econometrics, Economic Theory

Counterfactuals with Latent Information

American Economic Review 112, 343-368
Dirk Bergemann, Benjamin Brooks and Stephen Morris
January 2022
Journal of Political Economy
Economic Theory, Industrial Organization

Search, Information, and Prices

Journal of Political Economy 129, 2275-2319
Dirk Bergemann, Benjamin Brooks and Stephen Morris
August 2021
RAND Journal of Economics 2021
Economic Theory, Industrial Organization, Macroeconomics

Information, Market Power and Price Volatility

RAND Journal of Economics 52, 125-150
Dirk Bergemann, Tibor Heumann and Stephen Morris
March 2021
Theoretical Economics 15 (2020) 1399-1434
Economic Theory

Countering the Winner’s Curse: Optimal Auction Design in a Common Value Model

Theoretical Economics 15, 1399-1434
Dirk Bergemann, Benjamin Brooks and Stephen Morris
November 2020
Revue Économique
Economic Theory

Observational Implications of Non-Exponential Discounting

Revue Économique 71, 313-322
Stephen Morris and Andrew Postlewaite
January 2020
Economic Theory

Refinements and Higher Order Beliefs: A Unified Survey

Japanese Economic Review 71, 7-34
Atsushi Kajii and Stephen Morris
December 2019
American Economic Review
Economic Theory, Macroeconomics

Crises: Equilibrium Shifts and Large Shocks

American Economic Review 109, 2823–2854
Stephen Morris and Muhamet Yildiz
August 2019
Journal of Economic Literature
Economic Theory

Information Design: A Unified Perspective

Journal of Economic Literature 57, 44-95
Dirk Bergemann and Stephen Morris
March 2019
American Economic Review
Economic Theory

Revenue Guarantee Equivalence

American Economic Review 109, 1911-1929
Dirk Bergemann, Benjamin Brooks and Stephen Morris
May 2019
SIGEcom Exchanges
Economic Theory

First Price Auction with General Information Structures: A Short Introduction

SIGEcom Exchanges 16, 27-37
Dirk Bergemann, Benjamin Brooks and Stephen Morris
June 2018
American Economic Association Papers and Proceedings

Sources

Online Appendix
Economic Theory, Macroeconomics

Central Bank Forward Guidance and the Signal Value of Prices

American Economic Association Papers and Proceedings 108, 572-577
Stephen Morris and Hyun Song Shin
May 2018
Research in Economics
Economic Theory, Organizational Economics

Laws and Authority

Research in Economics 71, 32-42
George Mailath, Stephen Morris and Andrew Postlewaite
January 2017
Journal of Monetary Economics
Economic Theory, International Economics

Redemption Risk and Cash Hoarding by Asset Managers

Journal of Monetary Economics 89, 71-87
Stephen Morris, Ilhyock Shim and Hyun Song Shin
August 2017
Games and Economic Behavior
Economic Theory

Belief-Free Rationalizability and Informational Robustness

Games and Economic Behavior 104, 744-759
Dirk Bergemann and Stephen Morris
July 2017
Econometrica
Economic Theory

First Price Auctions with General Information Structures: Implications for Bidding and Revenue

Econometrica 85, 107-143
Dirk Bergemann, Benjamin Brooks and Stephen Morris
January 2017
Journal of Economic Theory
Behavioral Economics, Economic Theory

Interdependent Preferences and Strategic Distinguishability

Journal of Economic Theory 168, 329-371
Dirk Bergemann, Stephen Morris and Satoru Takahashi
March 2017
Theoretical Economics
Economic Theory

Bayes Correlated Equilibrium and The Comparison of Information Structures in Games

Theoretical Economics 11, 487-522
Dirk Bergemann and Stephen Morris
May 2016
Journal of Economic Theory
Economic Theory

Common Belief Foundations of Global Games

Journal of Economic Theory 163, 826-848
Stephen Morris, Hyun Song Shin and Muhamet Yildiz
November 2015
International Economic Review
Economic Theory, Financial Economics

Illiquidity Component of Credit Risk

International Economic Review 57, 1135-1148
Stephen Morris and Hyun Song Shin
November 2016
American Economic Review
Economic Theory

Information Design, Bayes Persuasion and Bayes Correlated Equilibrium

American Economic Review 106, 586-591
Dirk Bergemann and Stephen Morris
May 2016
In Monetary Policy through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated World
Economic Theory, Financial Economics, Macroeconomics

Risk Premium Shifts and Monetary Policy: A Coordination Approach

In Monetary Policy through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated World, 131-148
Stephen Morris and Hyun Song Shin
January 2016
Journal of Economic Theory
Economic Theory, Macroeconomics

Information and Volatility

Journal of Economic Theory 158, 427-465
Dirk Bergemann, Tibor Heumann and Stephen Morris
July 2015
American Economic Review
Economic Theory, Industrial Organization

The Limits of Price Discrimination

American Economic Review 105, 921-957
Dirk Bergemann, Benjamin Brooks and Stephen Morris
March 2015
Research in Economics
Economic Theory

Coordination, Timing and Common Knowledge

Research in Economics 68, 306-314
Stephen Morris
December 2014
Econometrica
Economic Theory, Industrial Organization

Robust Predictions in Games of Incomplete Information

Econometrica 81, 1251-1308
Dirk Bergemann and Stephen Morris
July 2013
Robust Mechanism Design: The Role of Private Information and Higher Order Beliefs
Economic Theory

Robust Mechanism Design: The Role of Private Information and Higher Order Beliefs

Dirk Bergemann and Stephen Morris
March 2012
American Economic Journal
Economic Theory, Macroeconomics

Contagious Adverse Selection

American Economic Journal: Macroeconomics 4, 1-21
Stephen Morris and Hyun Song Shin
January 2012
The Japanese Economic Review
Economic Theory

Robust Rationalizability under Almost Common Certainty of Payoffs

The Japanese Economic Review 63, 57-67
Stephen Morris, Satoru Takahashi and Olivier Tercieux
December 2011
American Economic Review
Economic Theory

Efficient Auctions and Interdependent Types

American Economic Review 102, 319-324
Dirk Bergemann, Stephen Morris and Satoru Takahashi
May 2012
The Review of Economic Studies
Economic Theory

A Foundation for Markov Equilibria in Sequential Games with Finite Social Memory

The Review of Economic Studies 80, 925-948
V. Bhaskar, George J. Mailath and Stephen Morris
July 2013
Foundations and Trends in Microeconomics
Economic Theory

An Introduction to Robust Mechanism Design

Foundations and Trends in Microeconomics 8, 169-230
Dirk Bergemann and Stephen Morris
February 2013
Journal of Economic Theory
Economic Theory

Rationalizable Implementation

Journal of Economic Theory 146, 1253-1274
Dirk Bergemann, Stephen Morris and Olivier Tercieux
May 2011
Games and Economic Behavior
Economic Theory

Robust Implementation in General Mechanisms

Games and Economic Behavior 71, 261-281
Dirk Bergemann and Stephen Morris
March 2011
Journal of Economic Theory
Economic Theory

The Robustness of Robust Implementation

Journal of Economic Theory 146, 2093-2104
Moritz Meyer-ter-Vehn and Stephen Morris
September 2011
The Review of Economic Studies
Economic Theory

Robust Implementation in Direct Mechanisms

The Review of Economic Studies 76, 1175-1204
Dirk Bergemann and Stephen Morris
October 2009
Theoretical Economics
Economic Theory

Robust Virtual Implementation

Theoretical Economics 4, 45-88
Dirk Bergemann and Stephen Morris
January 2009
Journal of Monetary Economics
Economic Theory, Financial Economics, International Economics

Risk and Wealth in a Model of Self-Fulfilling Currency Attacks

Journal of Monetary Economics 54, 2205-2230
Bernardo Guimaraes and Stephen Morris
November 2007
Journal of the European Economic Association
Economic Theory

The Role of the Common Prior in Robust Implementation

Journal of the European Economic Association 6 , 551-559
Dirk Bergemann and Stephen Morris
April 2008
 Central Banks as Economic Institutions
Economic Theory, Macroeconomics

Coordinating Expectations in Monetary Policy

In Central Banks as Economic Institutions, 88-104
Stephen Morris and Hyun Song Shin
January 2008
Games and Economic Behavior
Economic Theory

Ex Post Implementation

Games and Economic Behavior 63, 527-566
Dirk Bergemann and Stephen Morris
July 2008
Brookings Papers on Economic Activity
Economic Theory, Financial Economics

Financial Regulation in a System Context

Brookings Papers on Economic Activity 229-261
Stephen Morris and Hyun Song Shin
September 2008
The New Palgrave Dictionary of Economics
Economic Theory

Global Games

In The New Palgrave Dictionary of Economics 3, 676-681, 2nd edition
Stephen Morris
January 2008
The New Palgrave Dictionary of Economics
Economic Theory

Purification

In The New Palgrave Dictionary of Economics 6, 779-782, 2nd edition
Stephen Morris
January 2008
Review of Economic Dynamics
Economic Theory

Purification in the Infinitely Repeated Prisoners' Dilemma

Review of Economic Dynamics 11, 515-528
V. Bhaskar, George J. Mailath and Stephen Morris
July 2008
American Economic Association Papers and Proceedings
Economic Theory

An Ascending Auction for Interdependent Values: Uniqueness and Robustness to Strategic Uncertainty

American Economic Association Papers and Proceedings 97, 125-130
Dirk Bergemann and Stephen Morris
May 2007
Economic Theory

Interim Correlated Rationalizability

Theoretical Economics 2, 15-40
Eddie Dekel, Drew Fudenberg and Stephen Morris
January 2007
Journal of the European Economic Association Papers and Proceedings
Economic Theory, Macroeconomics

Optimal Communication

Journal of the European Economic Association Papers and Proceedings 5, 594-602
Stephen Morris and Hyun Song Shin
May 2007
Review of Financial Studies
Economic Theory, Financial Economics

Beauty Contests and Iterated Expectations in Asset Markets

Review of Financial Studies 19, 719-752
Franklin Allen, Stephen Morris and Hyun Song Shin
July 2006
Journal of International Economics
Economic Theory, International Economics

Catalytic Finance: When Does it Work?

Journal of International Economics 70, 161-177
Stephen Morris and Hyun Song Shin
September 2006
Theoretical Economics
Economic Theory

Coordination Failure in Repeated Games with Almost-Public Monitoring

Theoretical Economics 1, 311-340
George J. Mailath and Stephen Morris
January 2006
American Economic Association Papers and Proceedings
Economic Theory, Macroeconomics

Inertia of Forward Looking Expectations

American Economic Association Papers and Proceedings 96, 152-157
Stephen Morris and Hyun Song Shin
May 2006
Journal of Economic Theory
Economic Theory

Multidimensional Private Value Auctions

Journal of Economic Theory 126, 1-30
Hamming Fang and Stephen Morris
January 2006
American Economic Review
Economic Theory, Macroeconomics

Social Value of Information: Morris and Shin (2002) is Actually Pro Transparency, Not Con: Reply

American Economic Review 96, 453-455
Stephen Morris, Hyun Song Shin and Hui Tong
March 2006
Economic Theory

Topologies on Types

Theoretical Economics 1, 275-309
Eddie Dekel, Drew Fudenberg and Stephen Morris
January 2006
Brookings Papers on Economic Activity
Economic Theory, Financial Economics, Macroeconomics

Central Bank Transparency and the Signal Value of Prices

Brookings Papers on Economic Activity 2005, 1-66
Stephen Morris and Hyun Song Shin
January 2005
Journal of Economic Theory
Economic Theory

Generalized Potentials and Robust Sets of Equilibria

Journal of Economic Theory 124, 45-78
Stephen Morris and Takashi Ui
September 2005
The Economy as an Evolving Complex System III
Economic Theory

Heterogeneity and Uniqueness in Interaction Games

In The Economy as an Evolving Complex System III, 207-242
Stephen Morris and Hyun Song Shin
January 2005
 Globalization and the Nation State: The Impact of the IMF and World Bank
Economic Theory, Political Economy

Policy Conditionality

In Globalization and the Nation State: The Impact of the IMF and World Bank, 36-50
Stephen Coate and Stephen Morris
January 2005
Econometrica
Economic Theory

Robust Mechanism Design

Econometrica 73, 1771-1813
Dirk Bergemann and Stephen Morris
November 2005
Games and Economic Behavior
Economic Theory

Best Response Equivalence

Games and Economic Behavior 49, 260-287
Stephen Morris and Takashi Ui
November 2004
European Economic Review
Economic Theory, Financial Economics

Coordination Risk and the Price of Debt

European Economic Review 48, 133-153
Stephen Morris and Hyun Song Shin
February 2004
The Review of Economic Studies
Economic Theory, International Economics

Does One Soros Make a Difference? A Theory of Currency Crises with Large and Small Traders

The Review of Economic Studies 71, 87-113
Giancarlo Corsetti, Amil Dasgupta, Stephen Morris and Hyun Song Shin
January 2004
Review of Finance
Economic Theory, Financial Economics

Liquidity Black Holes

Review of Finance 8, 1-18
Stephen Morris and Hyun Song Shin
March 2004
Journal of Economic Theory

Sources

Correction
Economic Theory

Equilibrium Selection in Global Games with Strategic Complementarities

Journal of Economic Theory 108, 1-44
David M. Frankel, Stephen Morris and Ady Pauzner
January 2003
Advances in Economics and Econometrics (Proceedings of the Eighth World Congress of the Econometric Society)
Economic Theory

Global Games: Theory and Applications

In Advances in Economics and Econometrics (Proceedings of the Eighth World Congress of the Econometric Society) 1, 56-114
Stephen Morris and Hyun Song Shin
January 2003
Oxford Review of Economic Policy
Economic Theory, Macroeconomics

Communication and Monetary Policy

Oxford Review of Economic Policy 18, 495-503
Jeffery D. Amato, Stephen Morris and Hyun Song Shin
December 2002
Oxford Review of Economic Policy
Economic Theory

Coordination, Communication and Common Knowledge: A Retrospective on the Electronic-Mail Game

Oxford Review of Economic Policy 18, 433-445
Stephen Morris
December 2002
Journal of Economic Theory
Economic Theory

Coordination, Spillovers and Cheap Talk

Journal of Economic Theory 105, 450-468
Sandeep Baliga and Stephen Morris
August 2002
Economic Theory

Faulty Communication: Some Variations on the Electronic Mail Game

Advances in Theoretical Economics 1, 1-26
Stephen Morris
January 2002
Journal of Economic Theory
Economic Theory

Repeated Games with Almost-Public Monitoring

Journal of Economic Theory 102, 189-228
George J. Mailath and Stephen Morris
January 2002
American Economic Review

Sources

Web Appendix
Economic Theory, Macroeconomics

The Social Value of Public Information

American Economic Review 92, 1521-1534
Stephen Morris and Hyun Song Shin
December 2002
Game Theory and Business Applications
Economic Theory, Financial Economics

Game Theory Models In Finance

In Game Theory and Business Applications 35, 17-48
Franklin Allen and Stephen Morris
January 2001
Journal of Political Economy
Economic Theory, Political Economy

Political Correctness

Journal of Political Economy 109, 231-265
Stephen Morris
April 2001
NBER Macroeconomic Annual 2000
Economic Theory, Macroeconomics

Rethinking Multiple Equilibria in Macroeconomics

In NBER Macroeconomic Annual 2000 15, 139-182
Stephen Morris and Hyun Song Shin
January 2001
The Review of Economic Studies
Economic Theory

Contagion

The Review of Economic Studies 67, 57-78
Stephen Morris
January 2000
Games and Economic Behavior
Economic Theory

Rationalizable Trade

Games and Economic Behavior 31, 311-323
Stephen Morris and Costis Skiadas
May 2000
International Journal of Game Theory
Economic Theory

Approximate Common Knowledge Revisited

International Journal of Game Theory 28, 385-408
Stephen Morris
August 1999
American Economic Review
Economic Theory, Political Economy

Policy Persistence

American Economic Review 89, 1327-1336
Stephen Coate and Stephen Morris
December 1999
Oxford Review of Economic Policy
Economic Theory, Financial Economics

Risk Management with Interdependent Choice

Oxford Review of Economic Policy 15, 52-62
Stephen Morris and Hyun Song Shin
September 1999
The Asian Financial Crisis: Causes, Contagion and Consequences
Economic Theory, International Economics

A Theory of the Onset of Currency Attacks

In The Asian Financial Crisis: Causes, Contagion and Consequences
Stephen Morris and Hyun Song Shin
January 1999
Journal of Economic Theory

Sources

Comment
Economic Theory

Payoff Continuity in Incomplete Information Games

Journal of Economic Theory 82, 267-276
Atsushi Kajii and Stephen Morris
September 1998
American Economic Review

Sources

Comment
Economic Theory, International Economics

Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks

American Economic Review 88, 587-597
Stephen Morris and Hyun Song Shin
June 1998
Epistemic Logic and the Theory of Games and Decisions
Economic Theory

Alternative Notions of Knowledge

In Epistemic Logic and the Theory of Games and Decisions, 217-234
Stephen Morris
January 1997
Journal of Logic, Language and Information
Economic Theory

Approximate Common Knowledge and Co-ordination: Recent Lessons from Game Theory

Journal of Logic, Language and Information 6, 171-190
Stephen Morris and Hyun Song Shin
January 1997
Games and Economic Behavior
Economic Theory

Common p-Belief: The General Case

Games and Economic Behavior 18, 73-82
Atsushi Kajii and Stephen Morris
February 1995
Economic Theory
Behavioral Economics, Economic Theory

Rationality and Efficacy of Decisions under Uncertainty

Economic Theory 9, 309-324
Stephen Morris and Hyun Song Shin
February 1997
Journal of Economic Theory
Economic Theory

The Revelation of Information and Self-Fulfilling Beliefs

Journal of Economic Theory 73, 231-244
Jayasri Dutta and Stephen Morris
January 1997
Theory and Decision
Economic Theory

Risk, Uncertainty and Hidden Information

Theory and Decision 42, 235-269
Stephen Morris
January 1997
Econometrica
Economic Theory

The Robustness of Equilibria to Incomplete Information

Econometrica 65, 1283-1309
Atsushi Kajii and Stephen Morris
January 1997
Journal of Economic Theory
Economic Theory

The Logic of Belief and Belief Change: A Decision Theoretic Approach

Journal of Economic Theory 69, 1-23
Stephen Morris
January 1996
 Quarterly Journal of Economics
Economic Theory, Financial Economics

Speculative Investor Behavior and Learning

The Quarterly Journal of Economics 111, 1111-1133
Stephen Morris
January 1996
Economics and Philosophy
Economic Theory

The Common Prior Assumption in Economic Theory

Economics and Philosophy 11, 227-253
Stephen Morris
January 1995
Journal of Economic Theory
Economic Theory

Depth of Knowledge and the Effect of Higher Order Uncertainty

The Journal of Economic Theory 6, 453-467
Stephen Morris, Andrew Postlewaite and Hyun Song Shin
January 1995
Journal of Political Economy
Economic Theory, Political Economy

On the Form of Transfers to Special Interests

Journal of Political Economy 103, 1210-1235
Stephen Coate and Stephen Morris
January 1995
Journal of Development Economics
Development Economics, Economic Theory, International Economics

Inflation Dynamics and the Parallel Market for Foreign Exchange

Journal of Development Economics 46, 295-316
Stephen Morris
January 1995
Econometrica
Economic Theory

p-Dominance and Belief Potential

Econometrica 63, 145-157
Stephen Morris, Rafael Rob and Hyun Song Shin
January 1995
Theoretical Aspects of Reasoning about Knowledge, Proceedings of the Fifth Conference
Economic Theory

Revising Knowledge: A Hierarchical Approach

In Theoretical Aspects of Reasoning about Knowledge, Proceedings of the Fifth Conference, 160-174
Stephen Morris
January 1994
Econometrica
Behavioral Economics, Economic Theory

Trade with Heterogeneous Prior Beliefs and Asymmetric Information

Econometrica 62, 1327-1347
Stephen Morris
January 1994
Journal of Economic Theory

Sources

Correction
Economic Theory, Financial Economics

Finite Bubbles with Short Sales Constraints and Asymmetric Information

Journal of Economic Theory 61, 206-229
Franklin Allen, Stephen Morris and Andrew Postlewaite
January 1993
Journal of Public Economics
Public Economics

Fiscal Stabilization and Exchange Rate Instability: A Theoretical Approach and Some Policy Conclusions using Mexican Data

Journal of Public Economics 42, 329-356
Andrew Feltenstein and Stephen Morris
January 1990