that it may be useful to consider nonpecuniary utility in mechanism design and contract theory. Accordingly, we devise an … experiment to explore optimal contracts in an adverse-selection context. A principal proposes one of three contract menus, each … the more lopsided menus, and approach an equilibrium where one of the more equitable contract menus (which one depends on …

arising from within its society. Integration occurred when a number of nation– states shared similar political objectives …

the face of competitive pressures. The resulting firm integration is neither horizontal nor vertical but rather congeneric … integration of firms in related industries. We endogenize the industrial conglomeration structure and examine the effects of … quo. We also show that strategic firm integration can occur even in the presence of diseconomies of scope. The model helps …

Kevane (2002). We study the trade-off between the optimal rigid lending contract and the optimal discretionary one and find … that a rigid contract is optimal when the audit cost is larger than gains from insurance. Our analysis explains rigid … insurance can be provided by borrowers themselves under individual liability through a side-contract. …