We examine an economy where professionals provide services to clients and where a professional can sell his practice to another. Professionals vary in quality, and clients in their need (or willingness-to-pay) for high-quality service. Efficiency is measured as the number of matches between...

We examine the effects of famine relief efforts (food aid) in regions undergoing civil war. In our model, warlords seize a fraction of all aid entering the region. How much they loot affects their choice of army size; therefore the manner in which aid is delivered influences warfare. We identify...

French Abstract: Cet article présente un modèle théorique de conflit entre deux joueurs avec intervention par une force de maintien de la paix. Cette force est considérée comme un contingent militaire qui peut, selon les circonstances, s'aligner avec l'un des deux adversaires, agir...

This paper deals with volume of trade and distribution of surplus in markets subject to adverse selection. The benchmark case -- a variation of Akerlof's lemons model -- is that of a market where two qualities of a good are offered, in proportions such that, if a single price is required to...

The paper analyzes the dynamics of a resale market subject to adverse selection. Infinitely-lived agents deal in cars which last two periods. Car quality is exogenous and known only to sellers. I prove existence of steady-state equilibrium, then provide a full characterization: number of...

This paper presents a model in which a good is made up of two parts, and each part asts one or two periods, with known probabilities. The analysis includes consumer decisions regarding part replacement, as well as profit maximization under monopoly and oligipoly. It is found that firms have...

This paper presents a static model of a market for a quality-differentiated good. In one version quality is observable, in the other it is not. It is shown that some agents who are uninformed when quality is unobservable may have higher utility than they do when it is observable. This is more...

We examine the effects of famine relief efforts (food aid) in regions undergoing civil war. In our model, warlords seize a fraction of all aid and use it to feed soldiers. They hire their troops within a population of farmers heterogeneous in skills. We determine the equilibrium distribution of...