the secure embedding scheme (see Section II), it is hard to generate a watermarked version of c which has a low correlation with k 0. An estimation attack usually yields a watermarked object that still correlates well with k 0 ; a judge will reject the accusation on such an object, as it can only originate from a malicious seller (k 0 is only available to the seller). • Finally, can attempt to ...

A buyer wishes to purchase a good from a seller who chooses a sequence of prices over time. In each period, the buyer can also exercise an outside option such as moving onto another seller. We show there is a unique equilibrium in which the seller charges a constant price in every period equal to the monopoly price against their residual demand. This result contravenes the Coase conjecture.

We study the second-price offer feature of eBay auctions in which the seller has multiple units. Perhaps surprisingly, the opportunity to make second-chance offers can reduce seller profit. This happens if her marginal cost function is sufficiently steep. Hence, sellers should be wary about the possibility that buyers anticipate second-chance offers, and it may be advantageous for a seller to a...

This paper studies optimal auction design when the seller can affect the buyers’ valuations through an unobservable ex ante investment. The key insight is that the optimal mechanism may have the seller play a mixed investment strategy so as to create correlation between the otherwise (conditionally) independent valuations of buyers. The paper establishes conditions under which the seller can, i...

Recently, the automotive industry has been characterized by disruptive innovations, like self-driving cars or hybrid/electric engines. Despite this fact, some operations, such as trade of second-hand vehicles, still continue to be carried out in “traditional” way, which buyer trust seller about state vehicle. Several studies highlighted that odometer fraud alone could cost around 8.9 billion eu...

the analyze of the petroleum contract determines that the ownership of the oil and gas filed is one of the very fundamental issues in the petroleum contract not only for the host country in the middle east but also for the petroleum companies. but the analyze of the petroleum contracts from the ownership perspective may show that the hybrid nature of this ownership rights, one from private law ...

This paper presents a model incorporating endogenous firm entry (or product creation) that successfully translates positive news about the future into current expansions, and accounts for the positive comovements in output, consumption, investment and employment. The key elements are a time-variant sunk entry cost and variable capital utilization. In response to the expectation of future positi...

In many auction problems, we consider a selfinterested seller who is allocating item(s) to bidders in exchange for payments. The highly celebrated VCG mechanism provides an auction mechanism in this case that is efficient, strategy-proof, and ex post individually rational (IR). If the seller’s goal is to maximize revenue, alternative mechanisms include the Myerson optimal auction, which maximiz...