We examine time-consistent intertemporal price and quality discrimination by a durable goods monopolist facing a continuum of rational buyers with heterogeneous preferences over product quality. We focus the analysis on the "gap" case, where it is profitable for the monopolist to trade with the...

This paper addresses the class of agency problems with a risk-neutral principal and a risk-averse agent where hidden action and hidden information (on the agent's efficiency) are jointly present. The commonly used technological assumptions - such as the monotone-likelihood-ratio property (MLRP)...

Monitoring and Evaluation of the NREGS is a critical attribute mandated by the act itself and is done as a third party social audit (mandatory as per the ministry of rural development) or an M&E for every village (where the scheme is implemented) in accordance with the rules obligated by the...

We examine time-consistent intertemporal price-quality discrimination by a durable goods monopolist, when there are a continuum of buyer demand-intensities with respect to product quality, and it is profitable for the monopolist to trade with the marginal buyer-type (i.e., the gap case). We show...

We examine a durable goods monopolist's optimal dynamic price and product quality strategy when buyers are rational, have diverse tastes, and can trade used durables among themselves. Our analysis makes four main points. First, in contrast to the well-known time-inconsistency problem of the...

Eddy covariance measurements quantify the magnitude and temporal variability of land-atmosphere exchanges of water, heat, and carbon dioxide (CO2) among others. However, they also carry information regarding the influence of spatial heterogeneity within the flux footprint, the temporally dynamic...

We revisit the unsettled question of the effects of information asymmetry on corporate hedging by testing three relevant theories. Exploiting mergers or closures of brokerage firms as plausibly exogenous information asymmetry events, we find that treatment firms significantly reduce...

Repeated price competition in a duopoly is analyzed when the pricing decision is delegated to managers who are (1) privately informed of the stochastically evolving demand conditions in the industry and (2) are subject to moral-hazard on revenue-enhancing effort. In contrast to the standard...