Two sellers engage in price competition to attract buyers located on a network. The value of the good of either seller to any buyer depends on the number of neighbors on the network who consume the same good. For a generic specification of consumption externalities, we show that an equilibrium...

Auctions are a popular and prevalent form of trading mechanism, despite the restriction that the seller cannot price-discriminate among potential buyers. To understand why this is the case, we consider an auction-like environment in which a seller with an indivisible object negotiates with two...

We analyze the rationale for official authorization of patient dumping in the prospective-payment policy framework. We show that when the insurer designs the healthcare payment policy to let hospitals dump high-cost patients, there is a trade-off between the disutility of dumped patients...

We extend the model of Cornand and Heinemann (2008, Economic Journal) and examine how to implement partial announcement by selling public information when the agents' action is strategic complements. In a game of information acquisition, there exist multiple equilibria and the partial...

This paper presents a two-country two-commodity dynamic model with free international asset trade in which one country achieves full employment and the other suffers long-run unemployment. Own and spill-over effects of changes in policy, technological and preference parameters that emerge...

In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...

This paper studies dynamic price competition over two periods between two firms selling differentiated durable goods to two buyers who are privately informed about their types, but have valuations of the two goods dependent on the other buyer's type. The firms' pricing strategy in period 1 must...

In this paper we consider the exogenous indifference classes model of Barbera and Ehlers (2011) and Sato (2009) and analyze further the relationship between the structure of indifference classes across agents and dictatorship results. The key to our approach is the pairwise partition graph. We...

This paper generalizes the results in Aswal et al. (2003) on dictatorial domains.This is done in two ways. In the first, the notion of connections between pairs of alternatives in Aswal et al. (2003) is weakened to weak connectedness. This notion requires the specification of four preference...

We consider implementability and the welfare effects of a partial announcement policy using a model of a beauty contest where agentsf actions are strategic complements and where their decisions on public information acquisition are endogenous. The following results are obtained: i) if the...