Watson (2007) proposes non-forcing contracts as a way to show the limitations of the mechanism design program with ex-post renegotia- tion (Maskin and Moore (1999)). If one takes a partial implementation approach, as Watson does, we show that non-forcing contracts do not con- stitute an...

In an extremely interesting paper, Palacios-Huerta and Volij (2004) [PV] introduce the axiomatic method to the problem of how to rank academic journals on the basis of their mutual citations. They characterize the invariant method as the only one satisfying a list of five appealing properties....

In an extremely interesting paper, Palacios-Huerta and Volij (2004) [PV] introduce the axiomatic method to the problem of how to rank academic journals on the basis of their mutual citations. They characterize the invariant method as the only one satisfying a list of five appealing properties....

We study a multilateral negotiation procedure that allows for "partial agreements" in which responders are told only their own shares. Applications of our model include negotiations under "joint and several liability." Unlike previous models of multilateral bargaining with exit, we find that...