The literature on exchanges of information has ignored firms' entry decisions. Yet, the Federal Trade Commission recently expressed concerns that exchanges of information in business-to-business electronic platforms would adversely impact entry and, thus, consumers. When entry decisions are...

We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our model encompasses a broad...

We build a model of competitive pooling and show how insurance contracts emerge in equilibrium, designed by the invisible hand of perfect competition. When pools are exclusive, we obtain a unique separating equilibrium. When pools are not exclusive but seniority is recognized, we obtain a...

In the U.S. and other high-income countries, where most of the population lives in urban areas, there is intense scholarly and program interest in the effects of household and neighborhood living standards on health. Yet very few studies of developing-country cities have examined these issues....

We show that games of strategic substitutes (or complements) with aggregation are "pseudo-potential" games, and therefore possess Nash equilibria in pure strategies. Our notion of aggregation is quite general and enables us to take a unified view of several disparate models.

We analyze industrial espionage in a model of two firms: a monopoly incumbent, M, and a potential entrant, E, who owns a noisy intelligence system (IS) of a certain precision a . The IS generates a signal on M’s action and E decides whether or not to enter based on this signal. We show that if...

Using data on correction rates for vehicle recalls in the United States from 2007 to 2010, we investigate information transmission from manufacturers to owners regarding the defects of recalled vehicles. We pay special attention to the role of the language manufacturers use to convey each...

This paper presents findings of an investigation into the effects of living-standards and relative poverty on children’s schooling in urban and rural areas of Senegal. To measure living standards, we apply a multiple-indicator, multiple-cause (MIMIC) factor-analytic model to a set of proxy...

In the United States, the residential housing market went through important changes over the period from the 1970s to the mid-1990s. Although the aggregate homeownership rate was relatively constant during that period, the distribution of homeownership rates by age changed in remarkable ways....

There are many situations in which a customer's proclivity to buy the product of any rm depends heavily on who else is buying the same product. We model these situations as non-cooperative games in which rms market their products to customers located in a \social network". Nash Equilibrium (NE)...