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We design optimal mechanism to collect revenues from nonrenewable resource exploitation, when the resource must be explored and discovered and when there is asymmetric information. The exploration …
Discussion paper
People often draw inferences from sequences of past performance, sometimes perceiving patterns even in random outcomes. This has fueled debates regarding phenomena such as the hot hand and gambler’s …
Discussion paper
Distributive justice principles are commonly used in societal debates to support policy positions and argue for their legitimacy. Prominent formal incarnations of such principles are the Rawlsian, …
Discussion paper