We analyze the reporting strategies of firms and the investigation strategies of auditors in an archetype principles-based financial reporting system. To this end, we add a verification stage to a standard cheap-talk game, and apply the resulting game to financial reporting. We show that for a...

This discussion paper led to an article in <I>Games and Economic Behavior</I> (2011). Vol. 72, pp. 594-601.<P> There is by now a large literature arguing that auctions with a variety of after-market interactions may not yield an efficient allocation of the objects for sale, especially when the bidders...</p></i>

This paper develops one possible argument why auctioning licenses to op-erate in an aftermarket may lead to higher prices in the aftermarket comparedto a more random allocation mechanism. Key ingredients in the argumentare differences in firms' risk attitudes and the fact that future market...

The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...

This discussion paper led to a publication in the <I>Journal of Institutional and Theoretical Economics</I> (2010). Vol. 166, issue 2, pages 286-298. <P> A simultaneous pooled auction with multiple bids and preference lists is a way to auction multiple objects, in which bidders simultaneously express a...</p></i>

This discussion paper led to a publication in the <I>Regional Science and Urban Economics</I> (2005). Vol. 35(6), pages 700-714.<P> This paper develops a model for multi-store competition between firms. Using thefact that different firms have different outlets and produce horizontally differentiated...</p></i>

A monopolist in public transport may oversupply frequency relative to the social optimum, as van Reeven (2008) demonstrates with homogeneous consumers. This result generalizes for heterogeneous consumers who know the timetable. Whether a monopolist oversupplies or undersupplies frequency depends...