It is estimated that companies in the U.S. spent $800 million in 1998 to quot;acquire talent -- entertainers, athletes and other high profile personalities -- to spotlight in advertising, promotion and PR campaignsquot; (IEG Endorsement Insider). Such ads appear in a variety of media. How do we...

We consider a society that has to elect an official who provides a public service for the citizens. Potential candidates differ in their competence and every potential candidate has private information about his opportunity cost to perform the task of the elected official. We develop a new...