One type of regulation that has recently started to attract the attention of policymakers regarding artisanal fisheries is that of Territorial Use Rights (commonly known as TURFs in the literature). TURFs basically consist in the allocation of fishing rights to individuals and/or groups to fish...

In a typical corporate hierarchy, the manager is delegated the authority to make decisions that set directions for the organization, employ subordinates and contract with external suppliers. This paper explains when such delegation of authority can be optimal, using a model of a firm with three...

Most of the literature on auctions assumes that the auctioneer owns the object on sale. However most auctions are organized and run by an agent of the owner. This separation generates the possibility of corruption. We analyze the effect of a particular form of corruption on bidding behavior in a...

Networks and Farsighted Stability By Frank H. Page, Jr. Department of Finance University of Alabama Tuscaloosa, AL 35487 USA fpage@cba.ua.edu Myrna H. Wooders Department of Economics University of Warwick Coventry CV4 7AL UK M.Wooders@warwick.ac.uk Samir Kamat Portfolio Management Group Wachovia...

It is wellknown that a group of individuals contributing to a joint production process with diminishing returns will tend, in equilibrium, to put in too little effort if shares of the output are exogenous, and will put in too much effort if their shares are proportional to their inputs. We...

In this paper, we discuss the possibility of strategic behavior and truthful reporting in a two players' announcement game when there is a cost for getting information. First we show that the best strategy of each player is to announce the observed signal truthfully if the announcement is made...

The Harris-Todaro model is reinterpreted under an evolutionary game approach, including the behavior of migrants under bounded rationality in a process of imitation or learning. A first feature is an improvement upon Harris-Todaro by replacing the sign-preserving function of the adjustment...

We report experimental results using a multi-task for simple two-player, two- stage extensive-form games. It is suggested that by creating the perception of a "level playing field" the participants are relieved of responsibility for others since competition on a level playing field is presumed...

This paper considers the ``negotiation game'' Busch and Wen (1995)) which combines the features of two-person alternating offers bargaining and repeated games. Despite the forces of bargaining, the negotiation game in general admits a large number of equilibria some of which involve delay and...

The paper studies equilibrium selection in supermodular games based on a class of perfect foresight dynamics, introduced by Matsui and Matsuyama (JET 1995) and further developed by Hofbauer and Sorger (JET 1999, IGTR 2002) and Oyama (JET 2002). A normal form game is played repeatedly in a large...