This paper examines how and why people migrate between two regions with asymmetric size. The agglomeration force comes from the scale economies in the provision of local public goods, whereas the dispersion force comes from congestion in consumption of public goods. Public goods considered...

This paper analyses price competition between two firms producing horizontally and vertically differentiated goods. These are assumed to be credence goods, as consumers can hardly ascertain the quality of the commodities. We provide sufficient conditions for the existence of a unique price...

This paper identifies the optimal two-period price sequence in the attempt for selling a good, with take-it-or-leave-it offers, when the seller faces ambiguity about the buyers' willingness to pay. If the first round fails, the seller updates its beliefs on the state of the market in accordance...