An extrapolative model of house price dynamics

Edward L. Glaeser and Charles G. Nathanson
Journal of Financial Economics 126(1) (2017): 147-170

A modest approximation to rationality leads house prices to display momentum, mean reversion, and excess volatility.

Additional links: working paper, simulation replication files


Taxation and the allocation of talent

Benjamin B. Lockwood, Charles G. Nathanson, and E. Glen Weyl
Journal of Political Economy 125(5) (2017): 1635-1682

When different occupations have different spillover benefits (or costs) to society, the income tax can increase efficiency by incentivizing workers to choose more productive jobs.

Additional links: supplemental appendix, replication files (23 MB)


housing bubbles

Edward L. Glaeser and Charles G. Nathanson
Handbook of Regional & Urban Economics, Vol. 5 (2015)

The most promising explanations of real estate bubbles emphasize
some form of trend-chasing, which in turn reflects boundedly rational learning.

Additional links: NBER working paper


Housing dynamics: an urban approach

Edward L. Glaeser, Joseph Gyourko, Eduardo Morales, and Charles G. Nathanson
Journal of Urban Economics 81 (2014): 45-56

A rational, spatial-equilibrium model estimated with city-level income data captures some of the mean reversion and volatility in house prices, but none of the short-run persistence.

Additional links: free version, supplemental appendix


calculating evolutionary dynamics in structured populations

Charles G. Nathanson, Corina E. Tarnita, and Martin A. Nowak
PLoS Computational Biology 5(12): 45-56 (2009)

An easily computable statistic determines which strategy in a 2-by-2 game is evolutionarily stable when that game is played on a given graph.