In evaluating the effect of an R&D subsidy we need to know what the subsidized firm would have spent on R&D had it not received the subsidy.
In a general auction model with affiliated signals, common components to valuations and endogenous entry, we compute the equilibrium bidding strategies and outcomes, and derive a lower bound on the op
We study all–pay auctions with variable rewards under incomplete information.
Models that assume only consumer tastes determine the characteristics of supply are restrictive; producers can gain utility from aspects of production and pay for deviating from demand by accepting lo
This paper analyzes the role of referrals in the provision of surgical services.
The credit card market is a natural setting for investigating the relationship between pricing and consumer switching costs.