We consider mechanism design in social choice problems in which agents’ types are continuous, multidimensional, and mutually payoff-relevant, and there are three or more agents. If the center receives a signal that is stochastically related to the agents’ types and direct returns are...

An extreme event, such as a nuclear accident, an earthquake, a cluster of adverse reactions to a particular drug, or excessive breakdowns of some class of equipment, frequently focuses attention for the first time on an important issue. By then, however, data on the incidence and magnitudes of...

"A price-setting seller faces a buyer with unknown reservation value. We show that if the buyer is sufficiently risk averse, the seller can benefit from employing a Possibly-Final Offer (PFO) strategy. In a PFO, if the buyer rejects the seller's initial offer the seller sometimes terminates the...

This paper considers physician agency in choosing drugs to treat metastatic breast cancer, a clinical setting in which patients have few protections from physicians’ rent seeking. Physicians have explicit financial incentives attached to each potential drug treatment, with profit margins...

The cost of early retirement associated with patients with PD was substantial. Given that the proportion of Americans participating in the labour force in older age groups is expected to increase, PD-related early retirement costs will likely rise. </AbstractSection> Copyright Adis Data Information BV 2011