We discuss the welfare effects of bundling two products offered by two symmetric firms. We first show that, in terms of welfare, a monopoly does better than a duopoly in which each firm sell its good and that a monopoly selling the bundle does better than if it sells the bundle and the two goods...

In empirical studies of sequential auctions of identical objects, prices have been found to decline. We study auctions of ancient Chinese porcelain recovered from shipwrecks. In these auctions, there are very long sequences of lots of identical objects. We find that the average price decline is...

We analyze the empirical relationship between journal prices, their quality measured by their citation counts, their age, as well as conduct of publishers. The database covers 22 scientific fields and over 2600 among the most highly reputed and cited journals in 2003. We show that (a) for-profit...

We suggest a new game-theory-based ranking method for wines, in which the Shapley Value of each wine is computed, and wines are ranked according to their Shapley Values. Judges should find it simpler to use, since they are not required to rank order or grade all the wines, but merely to choose...

Museum passes which give visitors access to several museums, are becoming more and more frequent. One of the problems encountered is the sharing of the proceeds. We recommend a fair and easily implementable sharing rule that takes into account the relative contribution of each individual museum...