Reply to professor Vanek's comment on Bogetic's paper in the same issue of the Economic Analysis and Workers' Management.

The paper demonstrates a potential theoretical problem in achieving general equilibrium in an economy composed of firms maximizing income per worker; a problem which suggests that disequilibria in a labor- managed economy might be a rule rather than exception.

The most important issues in auction design are the traditional concerns of competition policy-preventing collusive, predatory, and entry deterring behaviour. Ascending and uniform-price auctions are particularly vulnerable to these problems (we discuss radiospectrum and football TV-rights...

This is an Invited paper for the World Congress of the Econometric Society held in Seattle in August 2000. We discuss the strong connections between auction theory and "standard" economic theory, and argue that auction-theoretic tools and intuitions can provide useful arguments and insights in a...

Temporary price reductions (sales) are quite common for many goods and usually result in an increase in the quantity sold. We explore whether the data support the hypothesis that these increases are, at least partly, due to dynamic consumer behavior: at low prices consumers stockpile for future...