Suggested contributions, membership categories, and discrete, incremental thank-you gifts are devices often used by benevolent associations that provide public goods. Such devices focus donations at discrete levels, thereby effectively limiting the donors' freedom to give. We study the effects...

Personalization is an integral part of e-commerce strategy today. A unique feature of personalization is that it requires users to provide a certain amount of personal information to the service provider, thus giving rise to an interesting dilemma in that consumers cannot enjoy more personalized...

This paper is the introductory chapter to Insider Trading (Oxford University Press 3d ed. 2010). This treatise analyzes the application of various laws to stock market insider trading and tipping. Among the federal laws are Exchange Act section 10(b), SEC Rule 10b-5, mail/wire fraud, SEC Rule...

Professor John P. Anderson's article, What's the Harm in Issuer-Licensed Insider Trading?, argues that my “Law of Conservation of Securities” has no moral relevance to the question whether to allow such trading.The Law of Conservation of Securities demonstrates that each stock market insider...

We propose a simple and practical "raffle" mechanism for allocating a limited supply of heterogeneous goods among unit demand consumers. While the mechanism is inspired by the common "tricky tray" raffle and a housing allocation system in Singapore, it has not been analyzed before, perhaps...

A mixed manna contains goods (that everyone likes), bads (that everyone dislikes), as well as items that are goods to some agents, but bads or satiated to others. If all items are goods and utility functions are homothetic, concave (and monotone), the Competitive Equilibrium with Equal Incomes...

In recent years, U.S. government entities have become increasingly active as commercial participants in corporate restructurings by providing rescue loans when private market funding is unavailable. Like private lenders, the government can effectively control the operations of distressed...

A principal wishes to distribute an indivisible good to a population of budget-constrained agents. Both valuation and budget are an agent's private information. The principal can inspect an agent's budget through a costly verification process and punish an agent who makes a false statement. I...