We study a complete information preemption game in continuous time. A finite number of firms decide when to make an irreversible, observable investment. Upon investment, a firm receives flow profits, which decrease in the number of firms that have invested. The cost of investment declines over...

According to Becker's famous theory on discrimination (Gary Becker, [Becker, Gary S., 1957], The Economics of Discrimination, University of Chicago Press), entrepreneurs with a strong prejudice against female workers forgo profits by submitting to their tastes. In a competitive market their...

We develop a theoretical framework of trade on a platform on which buyers and sellers interact, and compare the impact of different platform ownership structures. If two-sided network effects are strong, monopoly ownership induces more trade than dispersed ownership and is therefore socially...