While many theories of the firm seek to explain when firms make rather than buy, in practice firms often make and buy the same input- they engage in plural sourcing. We argue that explaining the mix of external procurement and internal sourcing for the same input requires a consideration of...

We present a model of political campaigning where a candidate chooses between promoting oneself (positive campaign) or attacking the rival (negative campaign). The media validates the claims made by candidates, and the quality of a candidate is not fully revealed unless there is a debate about...

If a government has ability and willingness to redistribute the surplus created by an external investor, why do we still observe resistance to such investment, sometimes in the form of destruction of productive assets? And how does such destructive action affect a government's...

Poor communities sometimes resist private investment and destroy economic surplus even if the government has the willingness and ability to redistribute. We interpret such acts of resistance as demands for redistribution: Destruction contains credible information about how the affected group...

We consider implementation issues regarding two mechanisms that have been used to increase voter turnout in elections: fines and lotteries. We focus on the amount of the fine or lottery prize needed to achieve full participation. We then propose a combined, self-financing mechanism by which the...

We study the Lagos and Wright (2005) model of monetary exchange in the laboratory. With a finite population of sufficiently patient agents, this model has a unique monetary equilibrium and a continuum of non-monetary gift exchange equilibria, some of which Pareto dominate the monetary...

. . .