Leo K. Simon
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View article: The Value of Information in a Congested Fishery
The Value of Information in a Congested Fishery Open
Congestion can reduce the value of a fishery, resulting in a lower total catch for the same amount of labor, fuel, and equipment expended in fishing activities. Absent the congestion externality, better information about the location and s…
Confirmation bias and signaling in Downsian elections Open
How do voters' behavioural biases affect political outcomes? We study this question in a model of Downsian electoral competition in which office-motivated candidates have private information about the benefits of policies, and voters may i…
Agricultural contracts, adverse selection, and multiple inputs Open
A significant and growing share of US agricultural output is produced under a production or marketing contract. An important controversy regarding agricultural production contracts is the control of non-labor inputs. Over time, contracts h…