We consider preference evolution in a class of conflict models with finite populations. We show that whereas aggregate conflict effort is always the same in evolutionary equilibrium, larger populations have greater individual subjective costs of conflict effort.

We consider two-player, perfectly discriminatory, common-value contests (or all-pay auctions), in which one player knows the value of the contested object with certainty, and the other knows only its prior distribution. We show, among other things, that in equilibrium the players win with equal...

We study the optimal strategy of a durable-goods monopolist who can offer goods in different qualities. The key finding is that the presence of the additional sorting variable further undermines the firm's commitment problem, leading to results that contrast sharply with those of standard...

A firm advises customers through an agent, such as a mortgage broker, who is incentivized through commissions and the threat of firing. We show that this implies an upper boundary for the feasible "standard of advice", up to which the standard increases with commissions.