The fixed-price-offer (FPO) mechanism in <italic>Trade Me</italic> auctions allows sellers to make a take-it-or-leave-it offer at the conclusion of an unsuccessful auction. Weinvestigate the effects of the FPO option on strategies and outcomes in independent-value auctions. The FPO option induces some bidders...

This article is concerned with models in which an agent faces a lottery with <italic>j</italic> other agents for a prize, so that the probability of winning the prize is 1/(<italic>j</italic> + 1), and where <italic>j</italic> is stochastic. After describing four different situations where such a lottery is present, we construct the expected...

This study analyzes the impact on income inequality of government efforts to increase agricultural incomes in rural China. It collects and analyzes survey data from 473 households in Yunnan, China in 2004. In particular, it investigates the effects of government efforts to promote improved...

We analyze the success of filtering as a solution to the spam problem when used alone or concurrently with sender pricing, receiver pricing, or both. We find that filtering alone may exacerbate the spam problem in terms of both the total number of spam message sent and the expected number of...

This paper discusses the desirability of government-legislated job security. Job security may be beneficial to employed workers, but it can also impose a cost on unemployed workers by lowering labour market turnover and thereby increasing the average duration of unemployment spells. This...