I investigate the issue of endogenous spillover of R&D information across firms through information exchange between their employees. Although the firms typically cannot observe and restrict communication between their employees in a direct way, they can regulate information flows through the...

We investigate the issue of implementation via individually rational ex-post budget-balanced Bayesian mechanisms. We show that all decision rules generating a nonnegative expected social surplus are implementable if and only if the probability distribution of the agents' types satisfies two...

We examine the optimal selling strategy of a monopolist facing consumers who have privately known demands, and some of whom have limited abilities to misrepresent their preferences. We derive the optimal mechanism in this environment and characterize its properties. In particular, we show that...