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Abstract We study a market where each seller chooses the quality and price of goods and the number of selling sites. Observing sellersʼ choices of pri
Read MoreAbstract In most electricity markets generators must submit step-function offers to a uniform price auction. These markets are often modelled as simpl
Read MoreAbstract An exchange economy in which agents have convex incomplete preferences defined by families of concave utility functions is considered. Suffic
Read MoreAbstract We investigate a canonical search-theoretic model without entry. Two agents are randomly matched with a long side being rationed. The matched
Read MoreAbstract We study the behavior of an agent who dislikes large choice sets because of the ‘cost of thinking’ involved in choosing from them. Focusing o
Read MoreAbstract We study a dynamic model with an incumbent monopolist and entry in every subsequent period. We first show that if all consumers have the same
Read MoreAbstract A single valuable object must be allocated to at most one of n agents. Monetary transfers are possible and preferences are quasilinear. We of
Read MoreAbstract We examine an infinite horizon model of quality growth for a durable goods monopoly. The seller may offer any bundle(s) of current and previo
Read MoreAbstract We provide a partial characterization of the set of outcome functions that can be supported as perfect Bayesian equilibrium in the recommenda
Read MoreAbstract In many countries, taxes on businesses are less progressive than labor income taxes. This paper provides a justification for this pattern bas
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