In this paper, we provide a novel experimental auction design that exploits an exogenous variation in the probability of winning to test for the presence of expectations-based reference dependent preferences. We prove that (i) in this design, (which is a one parameter modification of a Becker-de...

There is a recent trend towards trade agreements that include trade related competition provisions. However there are large differences across these trade agreements in terms of how the competition provisions are addressed. In this context, this research report tries to analyze the competition...

There is a recent trend towards trade agreements that include trade related competition provisions. However there are large differences across these trade agreements in terms of how the competition provisions are addressed. In this context, this research report tries to analyse the competition...

We provide a novel experimental auction design, in which (i) an exogenous decrease in the probability of winning, conditional on the bid, reduces the optimal bid of a loss averse agent whose reference point is expectations based; (ii) observed bid distributions uniquely identify the participants'...

This paper reviews the rice procurement operations of the Government of India from the standpoints of cost of procurement as well as effectiveness in supporting farmers' incomes. The two channels used for procuring rice are custom-milling of rice and levy. In the first, the government buys paddy...

Book Review of William J. Baumol, The Free-Market Innovation Machine, Princeton University Press, New Jersey, 2002, pp. 318, ISBN 0691096155, $35.00