This paper is based on the idea that for each partner in a marriage, there are two distinct types of leisure. One type is each person's independent (or private) leisure, and the other type is spousal leisure, whose importance has long been emphasized in the literature of psychology. While each...

In a repeated price game with long but finitely-lived consumers, the use of staggered long-term contracts enables firms to earn positive profits for a wider range of discount factors and market structures. Intertemporal bundling reduces the gains from business- stealing while leaving the cost of...

In this paper, we allow an expert with moral hazard to have private information on what would happen to his client both with his service and without his service. The contingent component in the contract this expert offers helps overcome his moral hazard, but also serves as a signal of his...