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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
We provide a theory of dynamic oligopoly pricing with heterogeneous price technologies, captured by the presence of trackers (on the firm-side) and shoppers (on the consumer-side) who can costlessly …
Discussion paper