A simple model with asymmetric information, in which inventory holders or traders submit demand curves to an auctioneer, has a unique partially revealing equilibrium. We wonder whether the agents can plausibly coordinate on this equilibrium through "eductive" reasoning relying on Common...

This paper proposes to explain why there are so many guests in African households and to determine the consequences on individual behaviors. The starting point is the assumption that there exists, in traditional societies, a norm, together with a system of sanctions, which states that within the...

We investigate the situation where a customer experiencing an inventory stockout at a retailer potentially leaves the firm's market. In classical inventory theory, a unit stockout penalty cost has been used as a surrogate to mimic the economic effect of such a departure; in this study, we...

Появление негосударственных вузов на рынке высшего образования многих стран вызвано особенностями высшего образования как экономического блага, а также...

In this paper, a spatial (circular) model is used to endogenously determine product locations and prices when consumers have an elastic (linear) demand with a finite reservation price. I show that a symmetric two-stage Bertrand-Nash equilibrium requires maximal product differentiation....

Исследованы теоретические аспекты понятия «рынок земли». Дано авторское определение рынка земли. Выделены специфические особенности земельного рынка,...

This article offers a comprehensive recapitulation of the relevant economics and case law on demand elasticities and makes some efforts toward rapprochement. The primary purpose is to make the relevant economicanalysis readily available to non-economists concerned with antitrust law, but some of...

Should health care provision be public, private, or both? We look at this question in a setting where people differ in their earnings capacity and express an inelastic demand for health care. We assume that illness reduces a person's health status when not receiving immediate treatment.