We study the problem of a monopolist who faces consumers with heterogeneous tastes a la Hotelling (1929). The monopolist first designs a product (positions herself) and then chooses the price. The standard monopoly model is nested as a special case with a fixed position. To determine the range...

We study auctions under restricted communication. Agents have valuations distributed over an interval but can only report one of a finite number of messages. We provide necessary conditions for welfare as well as revenue maximizing auctions in the independent private values case when bidders...

We study tender offers for a firm which is owned by one large shareholder who holds less than half of the total shares, and many small shareholders who each hold a unit share. Each shareholder is privately informed, yet uncertain, about the raider’s ability to improve the value of the firm,...