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Lemons and Peaches: A (Robust) Multi-stage Buying Mechanism with Multiple Applications
(2019)CEPR Discussion PapersWe introduce a four-stage, multi-price buying mechanism, which can be used by a (big) buyer to separate low-quality sellers - called "lemon" owners - from high-quality sellers - called "peach" owners. With a partition of sellers, the buyer obtains the commodities from the "peach" owners at a price that matches the willingness to sell. By contrast, "lemon" owners are trapped into selling their items at a low, or even negligible, price. Our ...Working Paper -
The Effect of Handicaps on Turnout for Large Electorates: An Application to Assessment Voting
(2019)CEPR Discussion PapersWe analyze the effect of handicaps on turnout. A handicap is a difference in the vote tally between alternatives that strategic voters take as predetermined when they decide whether to turn out for voting. Handicaps are implicit in many existing democratic procedures. Within a costly voting framework with private values, we show that turnout incentives diminish considerably across the board if handicaps are large, while low handicaps yield ...Working Paper