We consider a potential bioterror attack on an airport. After the attack is identified, the government is faced with the problem of how to allocate limited emergency resources (human resources, vaccines, etc.) efficiently. The government is assumed to make a one-time resource allocation...

We prove an asymptotic revenue equivalence among weakly asymmetric auctions with interdependent values, in which bidders have either asymmetric utility functions or asymmetric distributions of signals.

We study a model of entrepreneurs who compete in an auction-like setting for venture capital (VC) funding in a setting where limited capital dictates that the VC can only finance the best entrepreneurs. With asymmetric information, VCs can only assess entrepreneurs by the progress of...