We study equilibria in second price auctions when bidders are independently and privately informed about both their values and participation costs and their joint distributions across bidders are not necessarily identical. We show that there always exists an equilibrium in this general setting...

Exploring the Way to China’s Modernization -- Four Major Reforms in China since the Modern Times -- Achievements of Reform: Development, Transition, and Globalization -- Experience from China’s Reform -- Three Stages of China’s Economic Institutional Transition -- The Origin of the...

An n-commodity, n-factor, K-country log-linear model is developed, with identical Cobb-Douglas production coefficients and identical consumer expenditure shares across countries, in which factor endowments are such as to permit positive production of all commodities in all countries, hence...