Individuals exchange contracts for the delivery of commodities in competitive markets and, simultaneously, act strategically; actions affect utilities across individuals directly or through the payoffs of contracts. This encompasses economies with asymmetric information, Nash-Walras equilibria...

We consider two typed of cities. In the European one the amenities are located at the city-center ( like e.g. Paris or London) whereas in the American-type city the amenites are at the city-edge (like e.g. Detroit, Los Angeles). We first show that the unemploymed reside at the vicinity of the...

We study a general model of common-value second-price auctions with differential information. We show that one of the bidders has an inform tion advantage over the other bidders if and only if he possesses dominantstrategy. A dominant strategy is in fact unique and is given by the conditional...

Voting games are characterized by the emergence of dominated strategies, that would be iteratively deleted by rational players. In this note we show, via an example, how applying iterated dominance retricts the set of equilibrium outcomes in Besley and Coate (1997) citizen-candidate model of...