In this paper we study the distribution of power in the Council of the European Union. The goal of this paper is to evaluate the implications of coalition formation and the entry of some Central and Eastern European countries on the voting power of the member states. The analysis is based on the...

In the experimental scenario several agents repeatedly invest in n (n2) state-specific assets. The evolutionarily stable and equilibrium (Blume and Easley, 1992) portfolio for this situation requires to distribute funds according to the constant probabilities of the various states. The different...

The unmediated call auction is a useful trading mechanism to aggregate dispersed information. Its ability to incorporate information of a single informed insider, however, is less well understood. We analyse this question by presenting a simple call auction game where both auction prices and...