I reconsider the division of the literature into models with forward-looking voters and models with backward-looking voters by developing a model that incorporates motives from both literatures. As long as there is no uncertainty about preferences and parties can commit in advance to the...

It is proved that, among all restricted preference domains that guarantee consistency (i.e. transitivity) of pairwise majority voting, the single-peaked domain is the only minimally rich and connected domain that contains two completely reversed strict preference orders.This result has a number...

This paper studies optimal auction design when the seller can affect the buyers' valuations through an unobservable ex ante investment. The key insight is that the optimal mechanism may have the seller play a mixed investment strategy so as to create correlation between the otherwise...

This paper analyzes two-stage rank-order tournaments. A principal decides (i) how to spread prize money across the two periods, (ii) how to weigh performance in the two periods when awarding the second-period prize, and (iii) whether to reveal performance after the rst period. The information...

We investigate the claim that auctions in procurement are detrimental to the buyer- seller relationship, which is expressed by less trust by the buyer and more oppor- tunistic behavior by the supplier after the sourcing. To do so, we compare exper- imentally a standard auction and a...

This paper analyzes firm owners' incentives to implement Competition Law Compliance Programs as imperfect monitoring devices in a principal-agent setup and the interaction effects with bonus contracts. The manager chooses working effort and has the option to cartelize. The model reveals a...

We study individuals who can nudge themselves out of, or opt into a set of rules which either allows them to spy on an opponent, or to sabotage an opponent, or to fabricate payoff-relevant information on the opponent s moves. In an experiment, we observe significant altruism under rules which...

This paper investigates the impact of insurance contract design on the behavior of filing fraudulent claims in an experimental setup. We test whether or not peoples' fraud behavior varies for insurance contracts with full coverage, a straight deductible or variable premiums (bonus-malus...

The process of innovation is driven by two main factors: new inventions and institutions supporting the transformation of inventions into marketable innovations. This paper proposes a new institution, called a semi-public competition, that has been neglected by the economic literature but exists...

We recommend that an auction market replace the current system for submitting academic papers and show a strict Pareto-improvement of equilibrium. Besides the benefits of speed, this mechanmism increases the average quality of articles and journals and rewards editors and referees for their...