In this article, we consider how important developments in game theory have contributed to the theory of industrial organization. Our goal is not to survey the theory of industrial organization; rather, we consider the contribution of game theory through a careful discussion of a small number of...

A decision maker (DM) considers the acquisition of a multi-attribute object with uncertain qualities which can be discovered at a cost. DM's problem is to decide how much to invest in the discovery and whether to adopt or discard based on partial information. We characterize the solution in some...

We examine the consequences of lobbying and vote buying, assuming this practice were allowed and free of stigma. Two <italic>lobbyists</italic> compete for the votes of legislators by offering up-front payments to the legislators in exchange for their votes. We analyze how the lobbyists' budget constraints and...

We explore how allowing votes to be traded separately of shares may affect the efficiency of corporate control contests. Our basic set-up and the nature of the questions continue the work of <xref ref-type="bibr" rid="bib15">Grossman and Hart (1980)</xref>, <xref ref-type="bibr" rid="bib17">Harris and Raviv (1988)</xref>, and Blair, Golbe and Gerard (1989). We consider three...

This paper explains the fact that firms market both labeled and unlabeled products as a practice of price discrimination that emerges as a non-cooperative equilibrium outcome. The authors consider a market for a differentiated product where the possibility to price discriminate by the selective...

The motivating intuition is that the presence of nonmaximizing agents induces maximizing agents to take advantage of them and that this might magnify the effect of small deviations from maximizing behavior. This intuition is explored using a simple dynamic model. With an inflexible entry...