We investigate the terms of exchange between the legislative branch of the government and an administrative bureau with standard operating procedures. An administrative bureau is a not-for-profit public organisation responsible for the production of a non-marketable good. Such a bureau is...

A significant policy concern about the emerging plaintiff legal funding industry is that loans will undermine settlement. When the plaintiff has private information about damages, we find that the optimal (plaintiff-funder) loan induces all plaintiff types to make the same demand, resulting in...

In this paper we use a signaling model to analyze the effect of (endogenously-determined) third-party non-recourse loans to plaintiffs on settlement bargaining when a plaintiff has private information about the value of her suit. We show that an optimal loan (i.e., one that maximizes the joint...

A significant policy concern about the emerging plaintiff legal funding industry is that loans will undermine settlement. When the plaintiff has private information about damages, we find that the optimal (plaintiff-funder) loan induces all plaintiff types to make the same demand, resulting in...

In this paper we use a signaling model to analyze the effect of (endogenously-determined) third-party non-recourse loans to plaintiffs on settlement bargaining when a plaintiff has private information about the value of her suit. We show that an optimal loan (i.e., one that maximizes the joint...

With rapid technological change has come a blurring of boundaries between personal and workplace space. Employers are challenged to develop guidelines and policies to direct the appropriate use of technology to maintain a civil workplace. Because of the lack of shared understanding, or even...

We let students play a corruption game, embedded into a variant of the ultimatum game. Those allotted the role of public servants chose between whistleblowing, opportunism and reciprocity by delivery (of a contract) and those acting as businesspeople chose how to frame the game and whether to...

We model a hierarchy consisting of possibly corrupted agents who process information, and consider the problem of designing the efficient hierarchy structure and configuring the agents who differ in their honesty. If the only role of agents is to report the information to their direct superior,...

What are the welfare effects of a policy that facilitates for insurance customers to privately and covertly learn about their accident risks? We endogenize the information structure in Stiglitz's classic monopoly insurance model. We first show that his results are robust: For a small information...

Optimal contracts are derived from a simple model where government guarantees two types of private investors participationg in infrastructure projects. With asymmetric information, investors are offered a pair of incentive-compatible contracts covering production, tariff, and guarantee coverage....