The relationship between economic welfare and the number of firms in a quas i-Cournot market is examined. The authors presuppose the existence of a strong ( "first-best") government that can enforce themarginal-cost principle along wi th regulating the number of firms. It is shown that there...

The authors analyze the problem in which agents have nonpublic information and are to play an asymmetric information game. The agents may reveal some or all of their information to other agents prior to playing this game. Revelation is via exogenously specified certifiable statements. The...