We explore the consequences of the assumptions used in modern cryptographywhen applied to repeated games with public communication. Technically speaking, we model agents by polynomial Turing machinesand assume the existence of a trapdoor function. Under these conditions, we prove a Folk Theorem...

We introduce a procedure that uses basic topological characteristics of equilibrium correspondences of standard equilibrium concepts, to define broad equivalence classes of finite generic games in normal form. The proposed procedure is viewed as a potentially useful way of both organizing the...

In a paper published by Ma (1994) it was argued that the prospective payment system in the hospital industry was superior to the cost based reimbursement system to achieve both cost reduction and quality improvement ob jectives. In the analysis, it was assumed that quality and costs decisions...

Strategic trade policy affects foreign-based firm's internationalization mode. In this paper, by endogenizing market structure and tariff policy, we claim that 'tariff jumping' is not enough to give a rationale to the existence of multinational enterprises, in absence of cost differentials and...

Hospital financing systems determine ma jor decisions made by physicians and managers within hospitals. This paper examines the impact of the transition toward an activity-based reimburse- ment system that has emerged in most OCDE countries. We consider two initial situations, one for a private...

We study a model in which asymmetric regions compete for capital with both public investments and taxes. Public investments are chosen in the first stage, and then source income taxes are set in the second stage. Public investments increase the productivity of capital and they also serve to...

This paper reexamines the work of Kempf and Rota-Graziosi (J. Pub. Econ. 94: 768-776, 2010), which shows that leadership by the small region is the risk dominant equilibrium under the endogenous timing game. They obtain this result in a model where the asymmetry among countries translates into...