Through their websites, biotechnology firms communicate information about themselves and their products to other members of their networks. These networks are made up of an array of organisations with which biotechnology firms collaborate on product development projects, and on whom they rely...

Drawing on Clark and Marshall's [Clark Herbert H., Marshall Catherine R. Definite Reference and Mutual Knowledge. In: Joshi Aravind K., Webber Bonnie L., Sag Ivan A., editors. Elements Of Discourse Understanding. Cambridge, UK: Cambridge University Press, 1981.] theory of mutual knowledge, this...

We explore the relationship between public information and implementable outcomes in an environment characterized by random endowments and private information. We show that if public signals carry no information about private types, then an exact relationship holds: a more informative public...

Standard auctions are known to be a revenue-maximizing way to sell an object under broad conditions when buyers are symmetric and have independent private valuations. We show that when buyers have interdependent valuations, auctions may lose their advantage, even if symmetry and independence of...

In open internet auctions with deadlines, some bids made near the deadline are randomly lost. Roth and coauthors have demonstrated via full-information examples that multiple bidders bidding late can nevertheless be equilibrium behavior, as the cost to one bidder of a lost bid can be outweighed...