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Many government contracts with or policies towards oligopolistic sectors essentially involve private firms selling a given proportion (O), or quantity, of output to the government at a fixed price (pR) with the remainder being sold on the open-market. Often this is combined with consumer rationing. Examples include cement and sugar in India, and health, housing and defence in many countries. Th...

We present a general equilibrium model of intermediation designed to capture some of the key features of the modern financial system. The model incorporates financial constraints and state-contingent contracts, and captures the spillovers associated with asset fire sales during periods of stress. If a sufficiently severe shock occurs during a credit expansion, these spillovers can potentially g...

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We consider an infinitely repeated oligopoly in which at each period firms not only serve the spot market by either competing in prices or quantities but also have the opportunity to trade forward contracts. Contrary to the pro-competitive results of finite-horizon models, we find that the possibility of forward trading allows firms to sustain collusive profits that otherwise would not be possi...

The aim of this paper is to deal with the problem of coordination for online markets where a seller registers to an online market to sell an item. The seller and the owner of the market then form an alliance to generate revenue through online sales. However, the efficiency and stability of the alliance highly relies on the contract that specifies the way to split the revenue and costs over the ...

II. Legal Doctrines A. Restoration of the Equivalence Broken by Partial or Defective Performance 1. Damages for Vendor’s Breach in Land Sales and Price Abatement Ancillary to Specific Performance 2. Rent Abatement for Breach of Warranty of Habitability and other Obligations 3. Price Reduction under the CISG 4. Monetary Restitution for Non-Monetary Performance in Divisible Contracts B. Restorati...

This paper addresses the issue of the understanding of the book-selling situation as Swedish booksellers see it. It pursues the answers to the following questions: 1. What are the perceptions of Swedish booksellers of the impact of e-books on their business? 2. What drivers are important for Swedish booksellers for adopting and developing e-book sales through their own sales channels? 3. What d...

nowadays, belief in the criteria and conditions of interactions with an organization to promote customer relationships is somehow tied to the organizational performance, and its final goal is of great importance. in the literature on organizational behavior, this belief is defined as the “psychological contract”. the intention of this mixed research is to identify and discover the contents of p...

This paper proposes a theory of when labor contract should be nominal or, instead, indexed. We find that, contracts should be indexed if prices are difficult to forecast and nominal otherwise. We use a principalagent model developed by Jovanovic and Ueda (1997), with moral hazard, renegotiation, and where a signal (the nominal value of the sales of the agent) is observed before renegotiation ta...