We consider multiple-type housing markets. To capture the dynamic aspect of trade in such markets, we study a dynamic recontracting process similar to the one introduced by Serrano and Volij (2005). First, we analyze the set of recurrent classes of this process as a (non-empty) solution concept....

We study procurement auctions held in sequential and simultaneous formats. For thelatter format, we find less bid participation and more aggressive bidding for projects withstrong common value components and more competition for projects having strong privatevalue components.

We construct an elementary mechanism (Dutta, Sen and Vohra (1995)) that Nash implements the Constrained Walrasian correspondence. We extend it to incomplete and non-exclusive information economies by enlarging the message space of agents. We characterize the set of Bayesian equilibrium outcomes...

We analyse the problem of aggregating judgments over multiple issues from the perspective ofefficient aggregation of voters’ private information. While new in judgment aggregation theory,this perspective is familiar in a different body of literature about voting between twoalternatives when...

Economic theory argues that competition can diminish discrimination in the labor market, while arguments from social psychology’s social-identity theory point into the opposite direction. We ran two experiments to test the psychological predictions in an ‘economic’ setting. Participants...

We experimentally study the influence of local information conditions on elite capture and social exclusion in community-based development schemes with heterogeneous groups. Not only information on the distribution of aid resources through community-based schemes, but also information on who...

A sizeable portion of US research has tried to assess the ‘fairness’ of the corporate income tax system, that is: are companies treated in a non-discriminatory way under the corporate income tax system. Similar research has, however, never taken place in the Netherlands. The goal of this...

At arbitrary prices of commodities and assets, fix-price equilibria exist under weak assumptions: endowments need not satisfy an interiority condition, utility functions need only satisfy are very weak monotonicity requirement, and the asset return matrix allows for redundant assets. Prices of...

We consider the problem of allocating an infinitely divisible commodity among a group of agents with single-peaked preferences. A rule that has played a central role in the previous analysis of the problem is the so-called uniform rule. Thomson (1995a) proved that the uniform rule is the only...

This paper reports on a laboratory experiment which investigates the impact of institutions and institutional choice in constant-sum sender-receiver games. We compare individual sender and receiver behavior in two different institutions: A sanction-free institution which is given by the bare...