This paper studies free-riding incentives on common environmental resources in an incomplete information repeated game where abatements are perishable and perfect substitutes. Two contrasting types of perfect Bayesian ...

We study private provision of a continuous public good in an incomplete information repeated game. The analysis generates the following predictions in the form of Perfect Bayesian equilibria. When the discount factor is ...

This paper explores implications of interactions between noncontractibility of quality, multidimensional hidden information, switching costs and the frequency of trade on the terms of contracts in a buyer-seller setup. ...

This paper presents a negotiation model that includes value creation. It shows that creative negotiation efforts tend to intensify toward the deadline, and that the deadline is determined endogenously by the tension between ...

We compare two alternative legal presumptions, one more pro-defendant than the other, with the objective of reducing bureaucratic corruption to any target level at minimum social costs, broadly defined to include law ...

A higher level of transparency in decision making increases the probability that corruption or wrongdoing is detected. It may also improve outsiders' information about the identities of key decision makers, thereby enhance ...

I study the first-round separating equilibrium of a buyer-seller bargaining game, extended to allow for asymmetric information, strategically delayed offers and offers restricted to a portion of the good. When bargaining ...

Strategic delay and restricted offers are two modes of signaling bargaining power in alternating offers bargaining games. This paper shows that when both modes are available, the best signaling strategy of the "strong" ...

This paper presents a theoretical analysis of grace periods in the context of an overhang of external debt creating a tax on domestic investment. The grace period arises as a Nash equilibrium strategy of the creditor in a ...

The property rights regime is an important link between the yield of a natural resource and the appropriation and maintenance incentives of its users. This paper discusses the theoretical background for this link and ...