A decision maker needs to schedule several activities that take uncertain time to complete and are only valuable together. Some activities are bound to be finished earlier than others, thus incurring waiting costs. We show how to schedule activities optimally, how to give independent agents...

This paper explores information disclosure in matching markets, e. g. the informativeness of transcripts given out by universities. We show that the same amount of information is disclosed in all equilibria. We then demonstrate that if universities disclose the equilibrium amount of information,...

This paper introduces and formally models the variable value environment and proposes an auction mechanism appropriate for it. In the variable value environment, bidders’ private values may change over time as a result of both private actions and exogenous shocks. Examples of private actions...

Investment tournament is a type of decision problem introduced and studied in this paper. These problems involve allocation of investments among several alternatives whose values are subject to exogenous shocks. The payoff to the decision maker is a weighted sum of final values of each...

The presence of noise in compliance times may have a critical impact on the selection of new technological standards. A technically superior standard is not necessarily viable because an arbitrarily small amount of noise may render coordination on that standard impossible. The criterion for the...

The history of transition in Russia is analyzed in this paper. Issues ranging from managerial incentives to the changing structure of trade are considered in an attempt to present a comprehensive sketch of the state of the Russian economy. The transition in Russia can be compared with...