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Although higher status or income rank is known to generate hedonic pleasure, little is known about the search for rank information. We report an experiment eliciting rank beliefs and providing rank …
Discussion paper
This paper characterizes optimal education and population policies within a continuous-time overlapping generations (OLG) framework where fertility, schooling duration, and health expenditures are …
Discussion paper
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
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 …
Discussion paper