the Mirrlees literature), the contingency on fundamentals alone suffices for efficiency. When instead agents have private … dampening the impact of fundamentals; (ii) induce agents to internalize informational externalities, and hence improve the speed … of social learning; (iii) restore a certain form of constrained efficiency in the decentralized use of information; (iv …

We study the implementability of stable correspondences in marriage markets with externalities. We prove that, contrary … to what happens in markets without externalities, no stable revelation mechanism makes a dominant strategy for the agents …

efficient, regardless of externalities created by interim actions. Otherwise, in the presence of externalities on outside …

continue to negotiate as long as there are gains from trade, and coalitions may create positive or negative externalities. The …

where contracts may impose externalities on other agents. The paper derives several properties of the Markov perfect …

externalities that create a coordination problem among principals. Contract disclosure enables principals to design the contract … consider externalities on other principals caused by the effects of their contract choices on the monitor's scrutiny allocation …

We study coalition formation problems with general externalities. We prove that if expectations are not prudent a …