Accepted

Accepted papers and workshop publications

2026 Accepted

Adrasteia: AI Agent Workflow for Economic Paper Writing

Heikichi Hayashi

Accepted at ICML 2026 Workshop on Human-AI Co-Creativity

Adrasteia presents a human-in-the-loop AI agent workflow for economic paper writing, spanning assumption search, model structuring, argument revision, and referee-style critique.

Under Review

Papers currently under editorial or conference review

2025 Under Review

Smart Contracts, Dumb Money: Open Source Lemons

Heikichi Hayashi, Karl Yu, Huanxi Zhang, and Weiyu Qi

Kilts Center at Chicago Booth Marketing Data Center Paper

The project examines information quality, adverse selection, and investor behavior in open-source smart-contract environments and digital asset markets.

2025 Under Review

Smoothing the Cliff: Fair and Incentive-Compatible Priority Allocation via Randomized Mechanisms

Heikichi Hayashi, Karl Yu, Huanxi Zhang, and Weiyu Qi

This paper studies randomized allocation mechanisms designed to smooth cliff effects while preserving fairness and incentive compatibility in priority-based environments.

Working Paper

Current drafts and circulating working papers

2026 Working Paper

A Blessing in Disguise? DeFi Exploits and Short-Horizon Responses in U.S. Commercial Paper Spreads

Heikichi Hayashi

Working Paper

DeFi exploits generate short-run spillovers into traditional financial markets via money market fund reallocations, creating a measurable cross-market transmission channel.

2025 Working Paper

The Private Enforcer: Algorithmic Deterrence and the Shadow Tax on Insider Trading

Heikichi Hayashi, Karl Yu, Ruoran Lai, and Weiyu Qi

Working Paper

In DeFi markets, MEV acts as a private enforcement mechanism that penalizes informed trading and creates a shadow tax on strategic trading behavior.

Work in Progress

Projects still being actively developed into papers

2026 Work in Progress

Carbon vs. Silicon: Can AI Outperform Top-Tier Economists in Scientific Knowledge Production?

Heikichi Hayashi

Work in Progress

An AI-and-economics project examining whether advanced AI systems can match or outperform top-tier economists in originality, technical rigor, and heuristic value.

2026 Work in Progress

Connection Is All You Need? Pedigree, Placement, and Publication in Elite Academic Markets

Heikichi Hayashi

Work in Progress

An ongoing project on how pedigree, placement, and network connections shape publication outcomes in elite academic markets.

2026 Work in Progress

Killer Referees: Competition, Signaling, and Editorial Assignment

Heikichi Hayashi

Work in Progress

An in-progress study of editorial assignment, referee competition, and signaling dynamics in top academic journal review processes.