Businesspeople sigh, Can’t the university be more like business. The faculty complain about business values crowding out academic values. The truth, I contend, lies in the muddy middle. In some respects the university is becoming more like business, and in other respects business is becoming...

In this article, the author extends the basic repeated prisoners' dilemma to allow for the linkage of punishment strategies across issues (issue linkage) as well as decentralized third-party enforcement (player linkage). The concepts of issue and player linkage are then synthesized to develop...

Information about various policy alternatives is dispersed among the individual members of a society. Prior to a vote over the alternatives, some people take costly political action to signal their private information to voters. By informing voting decisions, political action has potential to...

A social planner finances a public good by taxing the consumption of two private goods. If leisure cannot be taxed, the tax burden is minimized by setting the tax rates on the two goods inversely proportional to their price elasticities of demand (Ramsey rule). The authors replace the social...