This paper investigates the circumstances under which negotiating simultaneously over multiple issues or assets helps reduce inefficiencies due to the presence of asymmetric information. Consider the case where one agent controls all assets. One would expect that strong substitutabilities among...

This paper studies revenue maximizing auctions when buyersiacute;outside options depend on their private information. The set-up is very general and encompasses a large number of potential applications. The main novel message of our analysis is that with type-dependent non-participation...

This paper studies revenue-maximizing allocation mechanisms for multiple goods where the buyeriacute;s utility can depend non-linearly in his type. We point out that despite strictly increasing virtual utilities, the allocation rule obtained via pointwise optimization may fail to be increasing...

We consider the regulation of a monopoly facing consumers that may evade payments, an important issue in public utilities. To maximize total surplus, the regulator sets the price and socially costly transfers, ensuring that the monopoly breaks-even. With costly effort, the firm can deter...