In this note we take a first step towards the analysis of collusion in markets with spatial competition, focusing on the case of pure location choices. We find that collusion can only be profitable if a coalition contains more than half of all players. This result holds for location games played...

On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding the estimate. Concern is still important when...

Variations of the Gale-Shapley algorithm have been used and studied extensively in real world markets. Examples include matching medical residents with residency programs, the kidney exchange program and matching college students with on-campus housing. The performance of the Gale-Shapley...

A symmetric difference metric topology on the collection of binary relations on a countably infinite set provides a new setting for the study of properties of preferences and, as an illustration, is used to lend credence and meaning to some simple intuitions about properties of binary relations....

We assign a probabilistic evaluation to a firm as a measure, in the form of a probability distribution over [0,1], of the quality of the firm’s products. When two firms compete to develop a new product, a prospective investor can use the two evaluations to determine which firm is likely to...

This paper takes voting theory out of the realm of mechanism design and studies elections as tools for representing preferences: every preference relation on a set of n elements is the outcome of pairwise voting by approximately 2 log2n voters with transitive preferences. Results like this one...