This paper considers second-price, sealed-bid auctions with a buy price where bidders' types are discretely distributed. We characterize all equilibria, restricting our attention to equilibria where bidders whose types are less than a buy price bid their own valuations. Budish and Takeyama...

This paper studies the environmental tax and trade liberalization in a mixed duopolistic market wherein environmental damage is associated with consumption. In particular, we consider the effect of privatization on environmental tax and the effect of trade liberalization on the environment in an...

We examine if and to what extent choice dispositions can allow dependence on contexts and maintain consistency over time, in a dynamic environment under uncertainty. We focus on a 'minimal' case of context dependence, opportunity dependence due to being affected by anticipated regret. There are...

This paper presents a micro-model of knowledge creation and transfer in a small group of people. It is intended to contribute eventually to the development of microfoundations for aggregate models of knowledge externalities used in various literatures, such as those pertaining to endogenous...

This paper is an investigation of the comparative advantage structure of United States (U.S.) international trade in services. It appears conclusively that the U.S. has a strong comparative advantage in knowledge-based services. For this study, the author adopts the Revealed Comparative...

This paper develops a model that considers the entrepreneur's moral hazard in the choice of project, the bank's moral hazard in the choice of bank loan contracting and refinancing, and the prudential regulation of the bank. The main findings are as follows: (i)Increasing capital requirements...

This paper is an investigation of the comparative advantage structure of United States (U.S.) international trade in services. It appears that the U.S. has a strong comparative advantage in knowledge-based services. For this study, the author adopts the Revealed Comparative Advantage (RCA) index...

We model individual careers in sports and games from initial entry to eventual exit or success as a discrete - choice, finite - horizon optimization problem. We apply this model to the international game of chess and study cross - country differences in the relative success of players. While we...

This Paper is to describe the economic burden of thalassemia as a major health problem in thalassemia belt countries like Iran. Great emphasis is placed on prenatal diagnosis to prevent the disease, as the "economic" solution from a health care policy viewpoint. The alternative method of the...

In this paper is the description of the features of socioeconomic system newly emerged in Russia as a result of transition to market economy. The main actors of this system are so called 'clans' containing of the business people affiliated with state officials and sometimes criminal groups....