Conventional wisdom suggests that non-local buyers usually pay a premium for home purchases. While the standard contract theory predicts that non-local buyers may pay such a price premium because of the higher cost of gathering information, behavioral economists argue that the premium is due to...

Consignment contract with revenue sharing has been widely applied in many industries and is especially popular in on-line marketplaces. In this paper we consider a supply chain with an upstream manufacturer and a downstream retailer where a single-period product is produced and sold. The...