Media outlet owners can modify their outlet's content so as to persuade audiences to adopt positions consistent with their preferred ideologies. In this paper, we assume that outlet owners value such persuasion, and therefore will engage in it at the cost of some reduction in profits. We compare...

Admati and Perry (1987) derive the equilibrium in a bargaining game between a seller and buyer when the buyer's valuation is private information. They show that, for some parameter values, trade occurs at the Rubinstein (1982) prices given the buyer's true valuation (pl if the buyer has a low...

This paper incorporates morality-defined as lower utility from consuming goods obtained through appropriative rather than productive activities-into a simple static general equilibrium model in which agents choose whether to be producers or appropriators. The authors analyze the relationship...