This article explores the use of alternative payment mechanisms to overcome the holdout problem when multiple parcels of land must be acquired to complete a real-estate development project. Purchase offers contingent upon successful land aggregation are compared to combination offers containing...

This article presents a classroom game that allows students to directly experience the welfare improvements that can result from price discrimination. The demonstration uses a very familiar decision-making scenario, campus parking, to introduce the concept of price discrimination as well as...

The effect of inequality on economic growth and efficiency is often debated. Our study investigates a behavioral phenomenon through which inequality might have adverse effects on economic growth. In particular we investigate whether or not individuals exhibit a discouragement effect in the face...