Organizations require discretionary decision making to be delegated and to be under only partial scrutiny from supervisors. This introduces the possibility for agents to use their discretionary power to their own advantage and in detriment to the organization. We model this situation by...

Consider a general equilibrium framework where the marginal cost of extraction from several deposits of an exhaustible resource is constant in terms of an inexhaustible perfect substitiute and differs between deposits. The instantaneous rate of productionfrom the inexhaustible resourcce is...

This paper presents a simple model of local telecommunications market when two access technologies, landline and wireless, are available. The two technologies differ in their cost structures and in the services they provide to consumers; specifically, the wireless technology allows its...

Dans leur ouvrage "Endogenous Growth Theory", P. Aghion et P. Howitt caracterisent les trajectoires optimales dans un modele schumpeterien ou ils introduisent explicitement des emissions de pollution qui deteriorent l'environnement. L'objectif du present article est de chercher comment ces...

Bertrand argued that price would be driven down to marginal cost even with only two firms in the market. Chamberlin, by introducing product differentiation, argued that price will exceed marginal cost even when there are many firms. Thus product differentiation resolves the "Bertrand Paradox"....

We propose an operational concept of Constrained Strategic Equilibrium (CSE) applicable to a broad class of empirical game theoreticmodels with incomplete information. By restricting the players' strategic sets, we can compute solutions from a strategic form of analyis based upon auxiliary Monte...

We consider a nonparametric random design regression model in which the response variable is possibly right censored. The aim of this paper is to estimate the conditional destribution function and the conditional x-quantile of the response variable. We restrict attention to the case where the...

A theoretical model of sequential first-price auctions where bidders are risk-averse and values are affiliated is developed. For constant risk-aversion utility functions and a particular specification of affiliation, closed-form solutions for the symmetric equilibrium of a sequence of k...