The nature, and normative properties, of competition in health care markets has long been the subject of much debate. In this paper we consider what the optimal benchmark is in the presence of moral hazard effects on consumption due to health insurance. Intuitively, it seems that imperfect...

This paper studies the collaboration of talents in rank-order tournaments. We use a structural matching model with unobserved transfers among participants to capture the differentiated incentives of participants that spur collaboration, with a specific focus on incorporating incomplete...

I consider a model in which an asset owner must decide how much to invest in his asset mindful of the fact that an encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the encroacher and asset owner engage in a contest over the...