In his classic novel, Catch-22 (1961), Joseph Heller describes a thoroughly frustrating situation faced by a combat pilot in WWII. This is generalized to a "generic" 2 x 2 strict ordinal game, in which whatever strategy the column player chooses, the best response of the row player inflicts on...

Circular A-76 sets out an extensive, detailed, and pragmatic methodology for federal government contracting. This paper reviews, critiques, and suggests how A-76 can be applied to contracting out at the municipal level. It then presents two case studies that employ the methodology in a municipal...

This paper develops a dynamic general equilibrium model that is intended to help clarify the role of credit market frictions in business fluctuations, from both a qualitative and a quantitative standpoint. The model is a synthesis of the leading approaches in the literature. In particular, the...

We study the evolution of preferences via payoff monotonic dynamics in strategic environments with and without complete information. It is shown that, with complete information and subgroup matching, empirically plausible interdependent preference relations may entail the local instability of...