It is wellknown that a group of individuals contributing to a joint production process with diminishing returns will tend, in equilibrium, to put in too little effort if shares of the output are exogenous, and will put in too much effort if their shares are proportional to their inputs. We...

In aggregative games, each player's payoff depends on her own actions and an aggregate of the actions of all the players (for example, sum, product or some moment of the distribution of actions). Many common games in industrial organization, political economy, public economics, and...

We consider a model of Cournot competition where firms have incomplete information about their rivals’ costs. The equilibrium concept we use is that of Bayesian-Nash equilibrium. Our analysis is particularly novel since we recognise that each firm’s payoff is determined by its strategy...