The paper shows that, with any rationing mechanism between the efficient and proportional extremes, the Kreps-Scheinkman two-stage quantity-price game reduces to the Cournot model if demand is uniformly elastic and if all costs are sunk at the first stage, thus providing positive results to set...

In a complete information auction, two integrated broadcasters bid for exclusive TV-rights to a sports league (e.g. the English Premier League), with two potential externalities: receipts feed through to the two league clubs who choose player expenditures, possibly enhancing league quality and...

This paper presents a theoretical model to show how distributional concerns can engender social conflict. We have a two‐period model that highlights the crucial role of future inequality. Equality of assets and income in the current period does not stop conflict from arising the anticipated...