This paper concerns the design of a trading mechanism for a group of traders when their valuations of the good are private information and they bargain over who shall consume more than his initial endowment and who shall consume less. It is shown that there generally exists a set of initial...

No abstract.

The paper addresses the question whether current tariffs for telecommunications services provided by the Swedish telecommunications company, Televerket (TVT), are optimal, second-best "Ramsey" prices. Focusing on two tariffs for telecommunications services those on subscription and calling time...