Most Recent Articles from RAND Journal of Economics

• Prominence and consumer search. 

  This article examines the implications of "prominence" in search markets. We model prominence by supposing that the prominent firm will be...

  06/22/09 by Armstrong, Mark · More from publication

• The ownership of ratings. 

  We identify the optimal contract between a rating agency and a firm and the circumstances under which simple ownership contracts implement this...

  06/22/09 by Faure-Grimaud, Antoine · More from publication

• Endogenous preferential treatment in centralized admissions. 

  We study a model of centralized admissions in which schools are allowed to pre-commit to admitting qualified applicants who rank them as their...

  06/22/09 by Chiu, Y. Stephen · More from publication

• Preferred suppliers in auction markets. 

  This article examines agreements between a buyer and one of the suppliers which increase their joint surplus. The provisions of such agreements...

  06/22/09 by Burguet, Roberto · More from publication

• Implementing high-powered contracts to motivate intertemporal effort supply. 

  We characterize the optimal contract between a principal and a risk-neutral, wealth-constrained agent when an adverse selection problem follows a...

  06/22/09 by Chu, Leon Yang · More from publication

• Bargaining with imperfect enforcement. 

  The game-theoretic bargaining literature insists on a noncooperative bargaining procedure but implicitly assumes "cooperative" implementation of...

  06/22/09 by White, Lucy · More from publication

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