We study bankruptcy rules in a setting where individuals have state contingent claims. A rule must distribute shares before uncertainty resolves. Within a wide class of parametric rules, we first characterize rules of ex–ante form in terms of the way that the rule processes inherent...

Little is known about the personality and cognitive traits that shape adolescents’ sensitivity to social norms. Further, few studies have harnessed novel empirical tools to elicit sensitivity to social norms among adolescent populations. This paper examines the association between sensitivity...

We consider the problem of sharing the cost of a network that meets the connection demands of a set of agents. The agents simultaneously choose paths in the network connecting their demand nodes. A mechanism splits the total cost of the network formed among the participants. We introduce two new...

Hydrogen is looked upon as the next generation clean energy carrier, search for an efficient material and method for storing hydrogen has been pursued relentlessly. Improving hydrogen storage capacity to meet DOE targets has been challenging and research efforts are continuously put forth to...

In the presence of market power in oligopolistic environment, price discrimination is a natural phenomenon. Surprisingly this setting has not been analyzed in depth in the literature. In contrast with existing literature, e.g., Hazledine (2006) and Kutlu (2009), we consider quantity setting...

One thing that has been assumed for a long time is that whenever there is dominant strategy equilibrium in the game form of any mechanism and the outcome corresponding to that strategy profile is socially optimal, people will play that particular equilibrium strategy pro?le. The theory has been...