The European Union (EU) has moved towards bicameralism, making the codecision procedure its most important mechanism for decision making. To gauge if European Parliament (EP) and Council of Ministers (CM) are equally powerful "codecision makers", understanding of the final stage of the procedure...

One of the most fundamental issues every legal system must address is the form of protection that should be given to legal entitlements. Calabresi & Melamed offered a simple, elegant criterion for choosing between property rules and liability rules, namely transaction costs. Property rules...

This article gives a brief introduction to reputation effects. A canonical model is described, the reputation bound result of Fudenberg and Levine (1989 1992) and the temporary reputation result of Cripps, Mailath, and Samuelson (2004, 2007) are stated and discussed

We study the long-run sustainability of reputations in games with imperfect public monitoring. It is impossible to maintain a permanent reputation for playing a strategy that does not play an equilibrium of the game without uncertainty about types. Thus, a player cannot indefinitely sustain a...

We study the long-run sustainability of reputations in games with imperfect public monitoring. It is impossible to maintain a permanent reputation for playing a strategy that does not eventually play an equilibrium of the game without uncertainty about types. Thus, a player cannot indefinitely...

Prosociality is fundamental to human social life, and, accordingly, much research has attempted to explain human prosocial behavior. Capraro and Rand (Judgment and Decision Making, 13, 99-111, 2018) recently provided experimental evidence that prosociality in anonymous, one-shot interactions...

We examine the buyer-seller problem under different levels of commitment. The seller is informed of the quality of the good, which affects both his cost and the buyer's valuation, but the buyer is not. We characterize the allocations that can be achieved through mechanisms in which, unlike with...

This paper solves for the set of equilibrium payoffs in bargaining with interdependent values when the informed party makes all offers, as discounting vanishes. The seller of a good is informed of its quality, which affects both his cost and the buyer's valuation, but the buyer is not. To...

The European Union (EU) has moved towards bicameralism, making the codecision procedure its most important mechanism for decision making. To gauge if European Parliament (EP) and Council of Ministers (CM) are equally powerful codecision makers , understanding of the final stage of the procedure...

For games of public reputation with uncertainty over types and imperfect public monitoring, Cripps, Mailath, and Samuelson (2004) showed that an informed player facing short-lived uninformed opponents cannot maintain a permanent reputation for playing a strategy that is not part of an...