We study the problem of information sharing in oligopoly, when sharing decisions are taken before the realization of private signals. Using the general model developed by Raith (1996), we show that if firms are allowed to make bilateral exclusive sharing agreements, then some degree of...

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...

We consider a problem of allocating multiple identical objects to a group of agents and collecting payments. Each agent may receive several objects and has quasi-linear preferences with a submodular valuation function. It is known thatWalrasian mechanisms are manipulable. We investigate the...

This paper investigates the impact of heterogeneous wealth on credit allocation from an egalitarian opportunity and an efficiency point of view. Under asymmetric information on both wealth and the responsibility variable there is no trade-off between equality and efficiency, actually wealth...

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...

In the present paper we study the efficiency properties of competitive equilibria in economies with hidden action and multiple goods. We borrow the description of the economy from Lisboa [3] and we apply a method of proof close in spirit to the one used in the literature on incomplete financial...

We consider optional TOU (time-of-use) pricing for residential consumers as an alternative to a single TOU or flat rate structure offered by a publicly regulated electricity supplier. A general equilibrium model is developed and used to explore and quantify the effects of optional pricing on...

We consider a problem of allocating multiple identical objects to a group of agents and collecting payments. Each agent may receive several objects and has quasi-linear preferences with a submodular valuation function. It is known that Walrasian mechanisms are manipulable. We investigate the...

We consider the multi-object allocation problem with monetary transfers where each agent obtains at most one object (unit-demand). We focus on allocation rules satisfying individual rationality, no subsidy, efficiency, and strategy-proofness. Extending the result of Morimoto and Serizawa (2015),...