This study argues that endowments can be efficient, both for a finite-lived and infinitely-lived agent. When the lost utility from forgone consumption is less than the discounted utility brought by the cash flows paid throughout the endowment, endowments are utility enhancing. Given that this...

This paper demonstrates that both consumer utility and event organizer profits increase when tournaments played at neutral sites sell tickets via options, which are exercisable only if the desired team reaches a given round of the tournament, and advanced selling; rather than just utilizing an...