In this note, we argue that the Eurozone needs an institutional exit mechanism to enhance Eurozone stability, and propose modifications to the Dobbs' NEWNEY mechanism, the only mechanism that satisfies the twin properties of eliminating incentives for intra-Eurozone capital flight and...

We study fiscal spending by supranational unions, where participation is voluntary and countries bargain over contributions to and the allocation of a central budget. We explore the link between the allocation and nations' contributions that occurs since bargaining power is endogenous, and...

In this paper, we consider a committee of experts that decides whether to approve or reject a proposed innovation on behalf of society. In addition to a payoff linked to the adequateness of the committee's decision, each expert receives a disesteem payoff if he/she voted in favor of an ill-fated...

Recent research has highlighted social image and identity concerns as factors that influence economic decisions. Given that an individual’s choice of employment may be important for their social image, we consider a model of worker sorting into the mission-oriented or private sector with...

In this paper, we study how forced migration impacts the in-group and out-group social capital of Syrian refugees and the host population in Northern Lebanon by administering a novel survey experiment in which we manipulate the salience of the migration experience (for refugees) and the refugee...

In 2014 over $60 billion was mobilized to help developing nations mitigate climate change, an amount equivalent to the GDP of Kenya. Interestingly, breaking from the traditional model of bilateral aid, donor countries distributed nearly fifty percent of their aid through multilateral aid funds...

While scholars and pundits alike have expressed concern regarding increasing social polarization based on partisan identity, there has been little analysis of how social polarization impacts voting. In this paper, we incorporate social identity into a principal-agent model of political...

In this paper, we study how forced migration impacts the in-group and out-group social capital of Syrian refugees and the host population in Northern Lebanon by administering a novel survey experiment in which we manipulate the salience of the migration experience (for refugees) and the refugee...

In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits, while the second contract gives an additional sales bonus....

Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be profitable. The profitability depends on the post-merger contest st ructure, the discriminatory power of the contest and on the number of contestants