We study an adverse-selection model in which the distribution of the asset is affected by unobservable actions of the seller. The seller's equilibrium behavior is characterized by a risk-seeking disposition, and a competitive market, in which the underlying distribution of the traded asset is...

In any economic analysis, regions or municipalities should not be regarded as isolated spatial units, but rather as highly interrelated small open economies. These spatial interrelations must be considered also when the aim is to forecast economic variables. For example, policy makers need...

Most models of object recognition assume a convergent projection within a hierarchy of processing stages: Stimuli from different areas of the receptive field project onto the same population of cells. Since attention is likely to modify such spatial pooling by changing the competitive weight of...