I consider bilateral trade between a seller and a buyer with private valuations. The seller makes a take-it-or-leave-it price offer. If the seller observes the buyerʼs valuation (symmetric information), bilateral trade is trivially efficient. If the seller cannot observe the valuation...

Unemployment insurance (UI) benefit sanctions in form of benefit reductions are intended to set an incentive to comply with job search requirements and to decrease moral hazard behaviour. However, sanctions might also affect the subsequent employment history. Empirical research on long-term...