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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
Schelling (1956) first clarified how power to reduce one’s freedom of choice might benefit a bargaining party. A commitment to reject proposals, when successful, may force concessions from opponents …
Discussion paper
We study how labeling of neighborhoods affects the performance and sorting of young residents at the junction of enrolling in high school. Exploiting the release of a much publicized official …
Discussion paper