In a class of informed principal problems with common values, we define iteratively a particular allocation which we call the assured allocation. It is comparatively easy to calculate and straightforward to interpret. It always exists, is unique and continuous in the priors. It is undominated,...

This paper introduces the concept of ordient for binary relations (preferences), a relative of the concept of gradient for functions (utilities). Ordients have a natural economic interpretation as marginal rates of substitution. Some examples of ordientable binary relations include the...

This paper introduces a new solution concept, a minimax regret equilibrium, which allows for the possibility that players are uncertain about the rationality and conjectures of their opponents. We provide several applications of our concept. In particular, we consider price-setting environments...