Over the past several years, environmental economists have been increasingly attracted to the use of information as an …

large, the equilibrium implements the efficient allocation with public information. Otherwise, the quality of goods and …/or the number of sites created is inefficient, due to a conflict between the search-directing and signaling roles of prices. …

We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: in the stochastic variant, there is more signaling behavior than with …

full information, it is shown that, whereas the low-quality firm prefers to locate as far as possible from its competitor … explanation for spatial agglomeration based on incomplete information considerations. Because it is less costly for a high …

In a circular matching model with bargained wages, firms rank their applicants and pick the most suitable one. Job …