Papers, preprints and research

Information Games: Strategic Crowding and Firm Repositioning in Language-Model Space

Marcus Gawronsky · Chun-Sung Huang

The question: How does competition change firms' responses to opportunity in language-model space?

Wasserstein-Barycentric Interaction Fields for Spatial Factor Models: Evidence from Language-Model Representations

Marcus Gawronsky · Chun-Sung Huang

The question: Can distributional similarity define economically meaningful interaction fields?

Methods: Optimal transport and Wasserstein geometry · Covariance and factor structure · Language-model representations

Portfolio Risk Bounds without Cross-Asset Return Covariances: Distributional Fields from Language-Model Representations

Marcus Gawronsky · Chun-Sung Huang

The question: Can portfolio risk be bounded without estimating every cross-asset covariance directly?

Methods: Covariance and factor structure · Language-model representations · Simulation and uncertainty · Optimisation and decisions

Systematic Covariance Envelopes from Wasserstein Geometry: Evidence from Language-Model Representations

Marcus Gawronsky · Chun-Sung Huang

The question: How much systematic covariance can be recovered from the geometry of probability-valued representations?

Methods: Optimal transport and Wasserstein geometry · Covariance and factor structure · Language-model representations

Pricing Offshore Services: Evidence from the Paradise Papers

Marcus Gawronsky

Methods: Event studies and network econometrics