We reverse the standard sequence of a complete contracting model: first the agent takes an action, then she alone observes the stochastic outcome and sends a message to the principal. Presuming of the validity of the Revelation Principle, the optimal (direct) mechanism with audit requires a two-part tariff to be offered to the agent, which weakens the ex ante incentives for effort. We then esta...

Should theological scholarship be satisfied with alreadyexisting theories about revelation and inspiration, or is there room for development of a new understanding of the way in which the Hebrew-Christian Scriptures were originated? In this article I probe the question of the ground or basis for developing a new approach to this doctrine. Further aspects of the topic will be considered in later...

destructive and cost-effective technique to based on image analysis and processing has found a ed approach is divided into

This paper defends the view that philosophical propositions are merely relatively true, i.e. true relative to a doxastic perspective defined at least in part by a non-inferential belief-acquiring method. Here is the strategy: first, the primary way that contemporary philosophers defend their views is through the use of rational intuition, and this method delivers non-inferential, basic beliefs ...

Auction theory has emphasized the importance of private information to the profits of bidders. However, the theory has failed to consider the question of whether or not bidders will be able to keep their information private. We show that in a variety of contexts bidders will reveal all their information, even if this information revelation is (ex ante) detrimental to them. Similarly, a seller m...

In 1998 I presented a paper which argued that no theory of money was possible—in the sense of there being a stable relationship between a few explanatory variables. The argument was based on the assumption that we were dealing with an economy of informed maximizers. The good that individuals choose to use as money depends on the solution of an optimization problem—of all available goods, which ...