This paper studies the problem of a monopolist privately informed about its product quality, who can sell its product in advance, and faces forward-looking buyers who learn about the quality over time. We show that if the monopolist prefers to sell sooner than later, the unique equilibrium...

This paper describes equilibrium in games where the informed players may be overconfident. Motivated by specific moral-hazard, signalling and screening problems, we first assume that the "uninformed" players know that the "informed" players may be mistaken, but that the "informed" players are...

We consider a team production problem in which the principal observes only the group output and not individual effort and in which the principal can only penalize an agent for poor performance if she has verifiable evidence that the agent in question did not fulfill his job assignment. In this...

Unlike formal games, most social applications are not accompanied by a complete list describing all relevant actions. As a result, the most difficult task faced by the players is often to formulate a model of the interaction. While it is known how players may learn to play in a game they know,...

Before playing a game, the players may sign a contract that prescibes not to take some actions. Following the methodology introduced in Bernheim and Whinston (1998), henceforth BW, this paper models verifiability as a correspondence mapping actually played actions that cannot be ruled out by a...