Massive dollars shuttled back and forth among firms on the twisted path to and passage of the 2017 tax reform. Prices of individual stocks…
We study an economy where intermediaries facilitate exchange between a supplier and consumers. The set of feasible transactions is…
US President Donald Trump and congressional Republican allies have succeeded in passing their big tax legislation. While it lacks many of…
Behavioural economic research has established that defaults, one form of nudge, powerfully influence choices. In most policy contexts, all…
Drug pricing in the U.S. is a persistently vexing policy problem. While there is agreement among many policy analysts that supra…
We investigate equilibrium bidding in first-price auctions with asymmetric reserve prices. For example, the auctioneer may set a low…