In this paper we propose a mechanism to resolve King Solomon’s dilemma about allocating an indivisible good at no cost to the participating agents. A distinctive feature of our mechanism is the design of a two-part contest that makes the agents guess each other’s bids in a...

We present a preliminary model of the within-season behavior of a fishery regulated by a total allowable catch constraint and season closure. An individual's catch depends on where he/she deploys effort and on the effort deployment decisions of other harvesters such that catch per unit effort is...

This paper considers self-stipulated penalties for defection and rewards for cooperation as inducements to cooperate in the prisoner's dilemma. The paper explicitly characterizes penalties and rewards that are necessary and suffcient to induce the players to cooperate. The characterization...