This study provides a comparative experimental evaluation of several alternative approaches to the (single-product) monopoly problem. We contrast incentive-compatible decentralized regulatory mechanisms with notions of market contestability in a decreasing-cost environment. The decentralized...

This article explores theoretical and experimental implications of using auctions to reward winners of research tournaments. This process is a hybrid of the research tournament for a prize and a first-price auction held after the research is complete. The bids in the auction consist of a vector...