We show that privatization can be beneficial even if the government is rational and benevolent, and if the firm's economic and informational environment is independent of the governance structure. The model assumes that wage contracts between the firm's owner (government or private entrepreneur)...

There are more and more industries in which firms are specialized in the production of a component of the final good. This is especially true in high-tech industries. The basic question is why don't these firms merge? We paradoxically show that industries which are typical candidates for...

We study a version of the Colonel Blotto game where valuations across battlefields are heterogeneous and asymmetric. These games can exhibit unique pure strategy equilibria, some of which are non-monotonic with respect to the battlefield valuations. We test our theoretical predictions in the...

Gamification, or the introduction of game elements to non-game contexts, has the potential to improve learning by increasing student motivation. However, there is little rigorous evidence about its effectiveness. In this paper, we experimentally evaluate an innovative technology program that...

Gamification, or the introduction of game elements to non-game contexts, has the potential to improve learning by increasing student motivation. However, there is little rigorous evidence about its effectiveness. In this paper, we experimentally evaluate an innovative technology program that...

We develop a dynamic resource extraction game that mimics the global multi-generation planning problem for climate change and fossil fuel extraction. We implement the game under different conditions in the laboratory. Compared to a "libertarian" baseline condition, we find that policy...