We consider a model where agents differ in their ‘types' which determines their voluntary contribution towards a public good. We analyze what the equilibrium composition of groups are under centralized and centralized choice. We show that there exists a top-down sorting equilibrium i.e. an...

The information age is replacing the Invisible Hand with an algorithmic hand. Where once markets were governed by uniform prices determined for large groups of anonymous consumers by impersonal forces of supply and demand, today there is increasingly no such thing as a market price. Instead,...

Online dating has recently become the most common way for new couples to meet, with three-in-ten Americans having used dating apps, and revenues from dating apps swelling to more than five billion annually. The majority of these dating apps earn revenue via subscription based pricing, where...

We propose a parsimonious framework for real rigidities, in the form of strategic complementarities, that can generate real and nominal dynamics and match key features of the data across several literatures. Existing menu-cost models featuring strategic complementarities require unrealistically...

We describe a simple 2-stage mechanism whereby for two bargainers, a Buyer and a Seller, it is a weakly dominant strategy to report their reservation prices in the 1st stage. If the Buyer reports a higher price than the Seller, then the referee announces that there is the possibility for trade,...

Voluntary standard setting organizations (SSOs) typically require participants to disclose their patents during the standard-setting process, and will endorse a standard only if patent holders commit to license them on “reasonable and non-discriminatory” or RAND terms. We argue that this...

In the first part of the paper we study the pricing policies of a customer-owned firm in the absence of external regulation. The profit-sharing rule is a key element of the price choice and our analysis focuses on the two most common ones, uniform and proportional. The main result is that the...

We study competitive interaction between two alternative models of digital content distribution over the Internet: peer-to-peer (p2p) file sharing and centralized client-server distribution. We present microfoundations for a stylized model of p2p file sharing where all peers are endowed with...