This paper studies the implementation of truth-telling in a repeated random matching prisoners’ dilemma where outcomes cannot be observed or verified by the public. It is well established that truthful information sharing can be a powerful device to overcome moral hazard problems. An equilibrium strategy can ask players to condition their behavior on this shared information, which creates stron...

We discuss bundle auctions within the framework of an integer allocation problem. We show that for multi-unit auctions, of which bundle auctions are a special case, market equilibrium and constrained market equilibrium are equivalent concepts. This equivalence, allows us to obtain a computable necessary and sufficient condition for the existence of constrained market equilibrium for bundle auct...

In this work, we study an equilibrium-based continuous asset pricing problem which seeks to form a price process endogenously by requiring it balance the flow of sale-and-purchase orders in exchange market, where large number agents $1\leq i\leq N$ are interacting through market price. Adopting mean field game approach, find special forward-backward stochastic differential equations McKean--Vla...