This study experimentally evaluates the performance of partial equilibrium mechanisms when different sectors run their mechanisms separately, despite the existence of complementarity between them. In our simple laboratory experiment setting that includes two sectors, each sector runs the...

This study experimentally evaluates the performance of partial equilibrium mechanisms when different sectors run their mechanisms separately, despite the existence of complementarity between them.In our simple laboratory experiment setting that includes two sectors, each sector runs the...

Before 2004 South Africa was the dominant steam coal exporter to the European market. However a new market situation with rising global demand and prices makes room for a new entrant: Russia. The hypothesis investigated in this paper is that the three incumbent dominant firms located in South...

Coal is at the core of the debate about climate change mitigation policies, yet the internationalmarket for it is not well represented in most energy models. This paper presents the COALMODframework which is a model of the international steam coal market that can be readily used toexplore...

Background: The cost of rural health continues to be high in the United States despite an overall improvement in national health insurance enrolment. Stakeholder’s perception of adverse selection remains a paramount culprit in the challenges of rural insurance markets. Risk attitude has been...

We look for necessary properties of shareholder-value maximizing corporate boards when shareholders face a trade-off between improving information sharing between the board and management and reducing distortions in decision-making arising out of managerial agency. We draw a distinction between...

We study a social choice model with partially honest agents, and we show that strategy-proofness is a necessary and sufficient condition to achieve secure implementation. This result provides a behavioral foundation for the rectangularity property; and it offers as a by-product a revelation...

Two experts make yes/no predictions about whether an event, such as an economic crisis, will occur. They receive private signals about the likelihood of the event that are much more informative than the coarse recommendations they can ultimately convey. The experts may care about both absolute...