An extrapolative model of house price dynamics

Edward L. Glaeser and Charles G. Nathanson
Journal of Financial Economics (forthcoming)

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 (forthcoming)

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.