In both military and economic situations, agents may try to mislead adversaries about true types or plans, whatever they may be. We consider a simple model in which one player attacks and the other player defends. We show that such environments have two types of possible equilibrium behavior,...

On November 15, 2002, the Department of Transportation ("DOT") issued a Notice of Proposed Rulemaking ("NPRM") regarding the regulation of Computer Reservation Systems ("CRS") in the airline industry. The NPRM raised a critical economic question: what is the nature and extent of competition in...

"In horizontal mergers, concentration is often measured with the Hirschman-Herfindahl Index (HHI). This index yields the price-cost margins in Cournot competition. In many modern merger cases, both buyers and sellers have market power, and indeed, the buyers and sellers may be the same set of...

"In both economic and military situations, agents may try to mislead rivals about their true types or plans, whatever they may be. We consider a simple model in which one player attacks and the other player defends. We show that such environments have two types of possible equilibrium behavior,...

Companies with market power occasionally engage in intentional quality reduction of a portion of their output as a means of offering two qualities of goods for the purpose of price discrimination, even absent a cost saving. This paper provides an exact characterization in terms of marginal...