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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 …
This paper provides large-scale evidence linking the economic effects of childcare programs to social skills measured in adulthood. We examine Finland’s first national public childcare program, and …
Many auctions and procurement contests entail nontrivial bidding costs, which makes the bidders’ participation decisions endogenous to the auction design. We analyze the effect of different auction …