This paper presents a theoretical framework to study the effects of geographical factors on the distribution of industries in the world econmy, which consists of many regions. The geographical feature of each region is summarized by a proximity matrix, whose elements measure the closeness...

Thie paper proves the existence of a symmetric equilibrium with multiproduct firms using a nested logit model of demand. The demand model is parametrized by two variable which characterize different dimensions of preference variety. These reflect intragroup heterogeneity and intergropu...

This paper is concerned with the procedural aspects of collective choice and the impact of the parties' participation rights on the optimal mechanism. We find that the mechanism designer generally benefits from the selective engagement of the agents-the exclusion of some agent-types from the...

This paper analyzes certain effects of insider trading on the principal-agent problem in corporations. Specifically, we focus on those managerial choices that confront managers with the need to decide between options that produce different corporate value but do not differ in the managerial...