This paper studies situations where a single buyer with uncertain demand wishes to buy from a small number of suppliers. In this setting it is well understood that supply function bidding results in the product not being produced at the lowest cost, that is, in the loss of production efficiency....

This paper studies the unemployment insurance and redistribution policy of a government who contemplates using workfare. We consider a population composed of employed and unemployed workers as well as individuals who do not seek employment (non-workers). Job search behavior is private...