In the Debate Concerning Income Policies, the Relative Importance of Wage Rigidities Plays a Crucial Role. Implicitely Or Explicitely, Those Against Controls Emphasize the Cost of Their Implementation and Presuppose That There Will Be a Quick Reaction of Wages to Modifications in Labor Market...

In this paper we model the market for a homogeneous good and examine the role of information in determining market outcomes. Unlike in Baye and Morgan (2001) where consumers can only learn about the prices charged by different firms by subscribing to an information intermediary’s service, we...

A model of first price sealed bid auctions is developed where bidders meet repeatedly while independently drawing private valuations in each period.Attention is focused on symmetric collusive bidding equilibria when side-payments are not allowed.