Concerns about the environmental effects of procurement decisions are gaining momentum. We investigate how the environmental quality of public purchases changes under two possible institutional settings: a centralized one, where a single regulator is in charge of both production efficiency and...

The endowment effect, status quo bias, and loss aversion are robust and well documented results from experimental psychology. They introduce a wedge between the prices at which one is willing to sell or buy a good. The objective of this paper is to address this wedge. We show that the presence...

We consider robust virtual implementation, where robustness is the requirement that implementation succeed in all type spaces consistent with a given payoff type space as well as with a given space of first-order beliefs about the other agents\' payoff types. This last bit, which constitutes our...

We consider an oligopoly with a principal-agent relationship, in which a firm's marginal cost is decreasing in a manager's managerial effort and is subject to an additive uncertainty. Two types of firms operate: one displays symmetric information between the owner and the manager, another...

Plaintiffs have either stong or weak cases. Both cases should be taken to court, yet weak cases need more work by the attorney than strong cases. Only the attorney knows whether a case needds additional work or not; the plaintiff is forced to rely on the attorney's recommendation. We show that...

We study the effects of varying the confidence level of speculators and the confidence level attributed to them by their competitors, about the precision of their private information in the framework of the model of financial markets with imperfect competition a la Kyle (1989).

We analyze the effects of uncertainty and private information on horizontal mergers. Firms face uncertain demands or costs and receive private signals. They may decide to merge sharing their private information. If the uncertainty parameters are independent and the signals are perfect,...

This paper examines competition in a spatial model of two-candidate elections, where one candidate enjoys a quality advantage over the other candidate. The candidates care about winning and also have policy preferences. There is two-dimensional private information. Candidate ideal points as well...