Revelation policies in an electronic marketplace differ in terms of the level of competitive information disseminated to participating sellers. Since sellers who repeatedly compete against one another learn based on the information revealed and alter their future bidding behavior, revelation policies affect welfare parameters—consumer surplus, producer surplus, and social welfare—of the market....

This paper analyzes the impact of a takeover threat on information flows (or communication) within or across firms. We consider a long-term relationship between a firm and a privately informed trading partner, say a buyer. Both parties bargain over a price in each period and a takeover may take place. When takeovers are ruled out, having high bargaining power increases the firm’s likelihood to ...

Although ‘the Lamb’ is the most important designation for Jesus Christ in the book of Revelation, the full significance of this sacrificial metaphor is still uncertain. In recent years, some scholars have given up looking for specific allusions to the OT sacrificial cult. However, little scholarly attention has been given to OT cultic allusions which surround the Lamb in the liturgical setting ...

Electronic reverse-markets such as those hosted by Freemarkets involve geographically dispersed sellers. By the very nature of the market, sellers in any given market-session are uncertain both about the number of opponents they face and their cost-structure. Over the course of several market sessions, sellers can learn about the competitive structure of the market. Their ability to learn i.e.,...

In the common agency problem multiple mechanism designers simultaneously attempt to control the behavior of a single privately informed agent. The paper shows that the allocations associated with equilibria relative to any ad hoc set of feasible mechanisms can be reproduced as equilibria relative to (some subset of) the set of menus. Furthermore, equilibria relative to the set of menus are weak...

The last decade has been witness to a rapid growth of interest in logics intended to support reasoning about the interactions between knowledge and action. Typically, logics combining dynamic and epistemic components contain ontic actions (which change the state of the world, e.g., switching a light on) or epistemic actions (which affect the information possessed by agents, e.g., making an anno...

Bayesian implementation concerns decision making problems when agents have incomplete information. This paper proposes that the traditional sufficient conditions for Bayesian implementation shall be amended by virtue of a quantum Bayesian mechanism. In addition, by using an algorithmic Bayesian mechanism, this amendment holds in the macro world. More importantly, we find that the revelation pri...