We study coordination failures in many simultaneously occurring coordination problems called projects. Players encounter one of these projects, but have an outside option to search for another of the projects. Drawing on the global games approach, we show that such a mobile game has a unique...

OPEC’s stated mission is to promote the economic development and growth of its member states while minimizing volatility in the oil markets. But after a promising beginning many member states’ economies have declined rather than prospered—a clear indication of OPEC’s failure to meet...

The objectives of this analysis are to evaluate the technical and scale efficiency of rice farms in West Java and to identify determinants affecting farms’ efficiency. Further, the farm size–productivity relation is investigated. Data Envelopment Analysis is used to estimate technical...

The purpose of this essay is to analyze the circumstances where a monetary economy dominates over a redistributive barter economy in which there is not an absence of double coincidence of wants problem. For this purpose, we develop a spatial general equilibrium model where individuals must trade...

This paper analyzes a single television station’s choice of airing tune-ins (preview advertisements). I consider two consecutive programs located along a unit line. Potential viewers know the earlier program but are uncertain about the later one. They may learn it through a tune-in if they...

A fundamental question in economics since the 1930s has been whether an administrative price system could simulate the results of perfect competition even without a true market for the means of production. The theoretical possibility of such a system has been known since the introduction of...

I explore the effect of a bank's failure on its client firms using the 1998 bankruptcy of a middle-sized Estonian bank.I compare the performance of firms receiving credit from the bankrupt bank to that of a randomly selected set of firms between 1996 and 2000.I find the client firms to be less...

The paper deals with the application of Minimum Weighted Residual Methods (MWR) in intertemporal optimizing models of endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly concentrated on one special class of MWR methods: the...

This paper considers the well known Romer model of endogenous technological change and its extension where different intermediate capital goods are complementary, introduced in (Benhabib, Perli, and Xie 1994). They have shown that this modification allows indeterminate steady state for...

We find robust gender differences in bidding behavior in sealed bid auctions with independent and private valuations in a laboratory setting. In particular, we find that women bid significantly higher and earn significantly less than men do in the first-price auction, while we find no evidence...