The South Korean Ministry of Environment, Korea Environmental Industry and Technology Institute, Ministry of Economy and Finance, and Public Procurement Service are working collaboratively to promote green purchasing policies across all levels of South Korean government. A primary reason for...

In 2019, the Spanish government published a Presidential Order approving the General State Administration’s Green Public Procurement Plan. This plan covers all public administrations including the General State Administration, its autonomous bodies, and social security management entities. Its...

The Japanese Ministry of Environment is promoting green purchasing policies across all levels of Japanese government. A primary reason is that green purchasing policies have the potential to significantly reduce carbon impacts across the globe and can help Japan achieve its carbon emissions...

I show that an introduction of a liability on firms, proportional to the difference between consumers' beliefs and the effective terms of purchase/contract, can improve both social welfare and consumer surplus, depending on the relative magnitudes of: 1) decrease in the gap between the beliefs...

This paper theoretically studies the interaction between an informed borrower and an uninformed lender facing possible default of a loan application. The lender is motivated to invest cognitive resources before making a lending decision. If the regulatory fine is weak, it is impossible for a...

This paper analyzes two aspects of the standard sequential consumer search model: (1) the role of the consumer's ex ante information structure on market outcomes and search behavior; and (2) the effect of imperfect recall on market outcomes and search behavior. Simulated equilibria are generated...

We study the optimal design of information nudges for present-biased consumers who have to make sequential consumption decisions without exact prior knowledge of their long-term consequences. For arbitrary distributions of risk, there exists a consumer-optimal information nudge that is of cutoff...