We study the relative performance of disclosure and auditing in decentralized institutions. We consider the information transmission problem between two decision makers who take actions in sequence at two decision dates. The first decision maker has private information about a state of nature that is relevant for both decisions, and sends a message to the second. The second decision maker can c...

We consider the fair Hamiltonian cycle Maker-Breaker game, played on the edge set of the complete graph Kn on n vertices. It is known that Maker wins this game if n is sufficiently large. We are interested in the minimum number of moves needed for Maker in order to win the Hamiltonian cycle game, and in the smallest n for which Maker has a winning strategy for this game. We prove the following ...

We show the effects of uncertainty, ecological and economic irreversibility, and endogenous learning on land preservation decisions for species conservation. We compare the optimal decisions of three types of decision makers: an experimenting decision maker who recognizes the endogeneity of information, a real options decision maker who ignores the endogeneity but recognizes the future availabi...