We consider a general information design problem in which the task of running a procedure generating information for a continuation game is performed by an agent. A moral hazard roblem therefore emerges in which the principal faces a trade-off between generating information with an eye to the...

For markets to work, buyers must know when products are of high quality. This paper provides a theoretical framework for studying the consequences of the certifier's identity, the characteristics of the best certifier, and the identity of the equilibrium certifier. A certifier that cares about...

We formally analyze the effects of legal presumptions in patent litigation. We set up a novel contest model to study litigation outcomes, judgement errors, and resource dissipation under three alternative presumption criteria: a presumption that the patent is valid; a presumption that the patent...