Antonio Merlo

University of Pennsylvania - Department of Economics

Lawrence R. Klein Chair of Economics, and Director of PIER

Ronald O. Perelman Center for Political Science

133 South 36th Street

Philadelphia, PA 19104-6297

United States

http://www.ssc.upenn.edu/~merloa

Rice University

6100 South Main Street

Houston, TX 77005-1892

United States

  • University of Pennsylvania - Department of Economics

    • Email
    • Tel: 215-898-7933
    • Fax: 215-573-2057

  • Rice University

SCHOLARLY PAPERS

50

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597

Scholarly Papers (50)

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1.

Whither Political Economy? Theories, Facts and Issues

PIER Working Paper No. 05-033
Number of pages: 81 Posted: 14 Dec 2005
Antonio Merlo
University of Pennsylvania - Department of Economics
Downloads 556 (45,325)
Citation 22

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microeconomics of political economy, voters, politicians, parties, governments

2.

What Accounts for the Decline in Crime?

Downloads 408 ( 66,614)
Citation 13

What Accounts for the Decline in Crime?

USC Finance & Business Econ. Working Paper No. 01-15, FRB of Cleveland Working Paper No. 00-08, PIER Working Paper No. 01-012
Number of pages: 33 Posted: 02 May 2001 Last Revised: 18 Nov 2007
Ayse Imrohoroglu, Antonio Merlo and Peter Rupert
University of Southern California - Marshall School of Business, University of Pennsylvania - Department of Economics and University of California, Santa Barbara - Department of Economics
Downloads 388 (70,044)
Citation 13

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property crime, inequality, dynamics

What Accounts for the Decline in Crime?

International Economic Review, Vol. 45, No. 3, pp. 707-729, August 2004
Number of pages: 23 Posted: 31 Aug 2004
Ayse Imrohoroglu, Antonio Merlo and Peter Rupert
University of Southern California - Marshall School of Business, University of Pennsylvania - Department of Economics and University of California, Santa Barbara - Department of Economics
Downloads 20 (509,925)
Citation 13
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3.

A Structural Model of Government Formation

PIER Working Paper No. 02-001
Number of pages: 55 Posted: 14 Apr 2002
Daniel Diermeier, Hulya Eraslan and Antonio Merlo
Northwestern University - Kellogg School of Management, Rice University and University of Pennsylvania - Department of Economics
Downloads 267 (107,347)
Citation 24

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Political Stability, Government Formation, Government Dissolution, Comparative Constitutional Design

4.

Bicameralism and Government Formation

FEEM Working Paper No. 81.04; PIER Working Paper No. 02-010
Number of pages: 53 Posted: 15 Jul 2004
Daniel Diermeier, Hulya Eraslan and Antonio Merlo
Northwestern University - Kellogg School of Management, Rice University and University of Pennsylvania - Department of Economics
Downloads 252 (114,054)
Citation 4

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Political Stability, Government Formation, Government Dissolution, Bicameralism, Comparative Constitutional Design

5.

Coalition Governments and Comparative Constitutional Design

PIER Working Paper No. 01-041
Number of pages: 23 Posted: 27 Nov 2001
Daniel Diermeier, Hulya Eraslan and Antonio Merlo
Northwestern University - Kellogg School of Management, Rice University and University of Pennsylvania - Department of Economics
Downloads 233 (123,408)
Citation 3

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Political Stability, Minority Coalitions, Government Formation, Government Dissolution, Bicameralism, Constitutions

6.

The Effects of Constitutions on Coalition Governments in Parliamentary Democracies

PIER Working Paper No. 03-037
Number of pages: 39 Posted: 08 Jan 2004
Daniel Diermeier, Hulya Eraslan and Antonio Merlo
Northwestern University - Kellogg School of Management, Rice University and University of Pennsylvania - Department of Economics
Downloads 229 (125,584)
Citation 3

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Political Stability, Coalition Governments, Constitutional Design

7.

A Political Economy Model of Congressional Careers

PIER Working Paper No. 02-029
Number of pages: 64 Posted: 09 Oct 2002
Daniel Diermeier, Michael P. Keane and Antonio Merlo
Northwestern University - Kellogg School of Management, Arizona State University (ASU) - Economics Department and University of Pennsylvania - Department of Economics
Downloads 228 (126,158)
Citation 57

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8.

Learning by Not Doing: An Experimental Investigation of Observational Learning

PIER Working Paper No. 01-040
Number of pages: 32 Posted: 08 Nov 2001
Antonio Merlo and Andrew Schotter
University of Pennsylvania - Department of Economics and New York University (NYU) - Department of Economics
Downloads 227 (126,699)
Citation 9

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Learning

9.

The Labor Market of Italian Politicians, Second Version

PIER Working Paper No. 09-024
Number of pages: 108 Posted: 13 Jul 2009
Antonio Merlo, Vincenzo Galasso, Massimiliano Landi and Andrea Mattozzi
University of Pennsylvania - Department of Economics, University of Lugano, Singapore Management University - School of Social Sciences and European University Institute - Economics Department (ECO)
Downloads 215 (133,529)
Citation 5

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politicians, parties, political careers

10.

Endogenous Lobbying

Downloads 213 (134,687)
Citation 18

Endogenous Lobbying

PIER Working Paper No. 01-055; CESifo Working Paper Series No. 291
Number of pages: 36 Posted: 19 Apr 2000
Leonardo Felli and Antonio Merlo
London School of Economics - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 179 (158,238)
Citation 18

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Lobbying, citizen-candidate, representative democracy, electoral competition

Endogenous Lobbying

CEPR Discussion Paper No. 3174
Number of pages: 33 Posted: 14 Feb 2002
Leonardo Felli and Antonio Merlo
London School of Economics - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 18 (522,172)
Citation 18
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Endogenous lobbying, citizen-candidate model, representative democracy

Endogenous Lobbying

LSE STICERD Research Paper No. TE448
Number of pages: 37 Posted: 16 Jul 2008
Leonardo Felli and Antonio Merlo
London School of Economics - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 16 (534,381)
Citation 18

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11.

The Transparency of Politics and the Quality of Politicians

PIER Working Paper No. 07-008
Number of pages: 15 Posted: 07 Feb 2007
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 166 (169,146)
Citation 4

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Transparency, politicians, parties, political recruitment

12.

Do Citizens Vote Sincerely (If They Vote at All)? Theory and Evidence from U.S. National Elections

PIER Working Paper No. 04-014
Number of pages: 45 Posted: 23 Apr 2004
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 156 (178,309)
Citation 2

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elections, turnout, selective abstention, split-ticket voting

13.

Mediocracy, Third Version

PIER Working Paper No. 11-002
Number of pages: 35 Posted: 26 Jan 2011
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 155 (179,259)

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Politicians, parties, political recruitment, electoral systems, all-pay auctions

14.

The Transition from School to Jail: Youth Crime and High School Completion Among Black Males, Second Version

PIER Working Paper No. 09-002
Number of pages: 51 Posted: 19 Jan 2009
Antonio Merlo and Kenneth I. Wolpin
University of Pennsylvania - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 155 (179,259)

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crime, schooling, work, VAR

15.

Bargaining Over Residential Real Estate: Evidence from England, Second Version

CESifo Working Paper Series No. 778; PIER Working Paper No. 02-023
Number of pages: 41 Posted: 17 Aug 2002
Antonio Merlo and François Ortalo-Magné
University of Pennsylvania - Department of Economics and Wisconsin School of Business
Downloads 151 (183,190)
Citation 27

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16.

An Empirical Investigation of Coalitional Bargaining Procedures

PIER Working Paper No. 01-042
Number of pages: 21 Posted: 27 Nov 2001
Daniel Diermeier and Antonio Merlo
Northwestern University - Kellogg School of Management and University of Pennsylvania - Department of Economics
Downloads 147 (187,294)
Citation 18

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Government Formation, Proposer Selection, Bargaining Procedures

17.

Money, Political Ambition, and the Career Decisions of Politicians

PIER Working Paper No. 07-016
Number of pages: 51 Posted: 11 May 2007
Michael P. Keane and Antonio Merlo
Arizona State University (ASU) - Economics Department and University of Pennsylvania - Department of Economics
Downloads 143 (191,574)
Citation 8

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politicians, political careers, monetary and non-monetary incentives, U.S. Congress

18.

Bargaining Over Residential Real Estate: Evidence from England

PIER Working Paper No. 02-005
Number of pages: 43 Posted: 14 Apr 2002
François Ortalo-Magné and Antonio Merlo
Wisconsin School of Business and University of Pennsylvania - Department of Economics
Downloads 141 (193,778)
Citation 30

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19.

Do Voters Vote Sincerely?

Downloads 139 (196,019)
Citation 5

Do Voters Vote Sincerely?

PIER Working Paper No. 06-008
Number of pages: 32 Posted: 27 Mar 2006
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 117 (224,991)
Citation 5

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voting, spatial models, falsifiability, testing

Do Voters Vote Sincerely?

NBER Working Paper No. w12922
Number of pages: 32 Posted: 23 Feb 2007 Last Revised: 20 Jun 2007
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 19 (516,061)
Citation 5

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Do Voters Vote Sincerely?

CEPR Discussion Paper No. DP6165
Number of pages: 33 Posted: 19 May 2008
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 3 (615,832)
Citation 5
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Falsifiability, spatial models, testing, voting

20.

Political Careers or Career Politicians?

Downloads 137 (198,318)
Citation 33

Political Careers or Career Politicians?

PIER Working Paper No. 05-032
Number of pages: 39 Posted: 14 Dec 2005
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 112 (232,399)
Citation 33

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politicians, parties, careers in politics

Political Careers or Career Politicians?

NBER Working Paper No. w12921
Number of pages: 28 Posted: 23 Feb 2007 Last Revised: 20 Jun 2007
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 21 (503,866)
Citation 33

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Political Careers or Career Politicians?

CEPR Discussion Paper No. DP6164
Number of pages: 30 Posted: 19 May 2008
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 4 (608,466)
Citation 33
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Career politicians, political careers

21.

Mediocracy

Downloads 133 (203,035)
Citation 10

Mediocracy

PIER Working Paper No. 07-007
Number of pages: 22 Posted: 07 Feb 2007
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 100 (251,994)
Citation 10

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politicians, parties, political recruitment

Mediocracy

NBER Working Paper No. w12920
Number of pages: 22 Posted: 23 Feb 2007 Last Revised: 20 Jun 2007
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 31 (447,996)
Citation 10

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Mediocracy

CEPR Discussion Paper No. DP6163
Number of pages: 23 Posted: 19 May 2008
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 2 (625,990)
Citation 10
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Parties, political recruitment, politicians

22.

Pattern Bargaining

Downloads 133 (203,035)
Citation 12

Pattern Bargaining

PIER Working Paper No. 01-032
Number of pages: 46 Posted: 25 Sep 2001
Robert C. Marshall and Antonio Merlo
Pennsylvania State University, College of the Liberal Arts - Department of Economic and University of Pennsylvania - Department of Economics
Downloads 118 (223,636)
Citation 12

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Pattern Bargaining

International Economic Review, Vol. 45, pp. 239-255, February 2004
Number of pages: 17 Posted: 21 Apr 2004
Robert C. Marshall and Antonio Merlo
Pennsylvania State University, College of the Liberal Arts - Department of Economic and University of Pennsylvania - Department of Economics
Downloads 15 (540,557)
Citation 12
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23.

A Political Economy Model of Congressional Careers: Supplementary Material

PIER Working Paper No. 04-038
Number of pages: 37 Posted: 02 Oct 2004
Daniel Diermeier, Michael P. Keane and Antonio Merlo
Northwestern University - Kellogg School of Management, Arizona State University (ASU) - Economics Department and University of Pennsylvania - Department of Economics
Downloads 124 (214,519)
Citation 56

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political careers, politicians, elections, term limits

24.

The Transition from School to Jail: Youth Crime and High School Completion among Black Males

PIER Working Paper No. 08-033
Number of pages: 49 Posted: 21 Sep 2008
Antonio Merlo and Kenneth I. Wolpin
University of Pennsylvania - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 117 (223,989)

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crime, schooling, work, VAR

25.

The Home Selling Problem: Theory and Evidence

Downloads 109 (235,686)
Citation 8

The Home Selling Problem: Theory and Evidence

PIER Working Paper No. 13-006
Number of pages: 46 Posted: 31 Jan 2013
Antonio Merlo, François Ortalo-Magné and John Rust
University of Pennsylvania - Department of Economics, Wisconsin School of Business and Department of Economics, Georgetown University
Downloads 108 (238,571)
Citation 8

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housing, bargaining, sticky prices, optimal selling strategy, dynamic programming

The Home Selling Problem: Theory and Evidence

International Economic Review, Vol. 56, Issue 2, pp. 457-484, 2015
Number of pages: 28 Posted: 29 Apr 2015
Antonio Merlo, François Ortalo-Magné and John Rust
University of Pennsylvania - Department of Economics, Wisconsin School of Business and Department of Economics, Georgetown University
Downloads 1 (639,328)
Citation 8
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26.

Do Voters Vote Ideologically?, Third Version

PIER Working Paper No. 08-034
Number of pages: 46 Posted: 21 Sep 2008
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 99 (252,072)
Citation 9

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voting, spatial models, falsifiability, testing

27.

A Structural Model of Turnout and Voting in Multiple Elections, Fourth Version

PIER Working Paper No. 07-025
Number of pages: 52 Posted: 07 Sep 2007
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 99 (252,072)
Citation 14

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elections, turnout, selective abstention, split-ticket voting

28.

Bargaining Over Residential Real Estate: Evidence from England, Third Version

PIER Working Paper No. 04-020
Number of pages: 35 Posted: 18 May 2004
Antonio Merlo and François Ortalo-Magné
University of Pennsylvania - Department of Economics and Wisconsin School of Business
Downloads 95 (258,894)
Citation 27

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29.

Majority Rule in a Stochastic Model of Bargaining

PIER Working Paper No. 01-013
Number of pages: 32 Posted: 02 May 2001
Hulya Eraslan and Antonio Merlo
Rice University and University of Pennsylvania - Department of Economics
Downloads 88 (271,803)
Citation 15

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Noncooperative Bargaining, Voting Rules, Stochastic Games

30.

Political Careers Or Career Politicians? Second Version

PIER Working Paper No. 07-009
Number of pages: 28 Posted: 07 Feb 2007
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 87 (273,734)
Citation 32

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politicians, parties, careers in politics

31.

A Political Economy Model of Congressional Careers, Second Version

PIER Working Paper No. 04-037
Number of pages: 41 Posted: 02 Oct 2004
Daniel Diermeier, Michael P. Keane and Antonio Merlo
Northwestern University - Kellogg School of Management, Arizona State University (ASU) - Economics Department and University of Pennsylvania - Department of Economics
Downloads 87 (273,734)
Citation 55

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political careers, politicians, elections, term limits

32.

Bicameralism and Government Formation, Second Version

PIER Working Paper No. 07-010
Number of pages: 45 Posted: 09 Feb 2007
Daniel Diermeier, Hulya Eraslan and Antonio Merlo
Northwestern University - Kellogg School of Management, Rice University and University of Pennsylvania - Department of Economics
Downloads 84 (279,733)
Citation 4

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Political Stability, Government Formation, Government Dissolution, Bicameralism, Comparative Constitutional Design

33.

On the Political Economy of Income Redistribution and Crime

USC Finance and Business Economics Working Paper, FRB of Cleveland Working Paper No. 96-09
Number of pages: 40 Posted: 16 Dec 1996 Last Revised: 18 Nov 2007
Ayse Imrohoroglu, Antonio Merlo and Peter Rupert
University of Southern California - Marshall School of Business, University of Pennsylvania - Department of Economics and University of California, Santa Barbara - Department of Economics
Downloads 79 (290,239)
Citation 19

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34.

Do Voters Vote Sincerely? Second Version

PIER Working Paper No. 07-006
Number of pages: 32 Posted: 07 Feb 2007
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 78 (292,386)
Citation 5

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voting, spatial models, falsifiability, testing

35.

Identification and Estimation of Preference Distributions When Voters are Ideological

Downloads 76 (296,916)
Citation 2

Identification and Estimation of Preference Distributions When Voters are Ideological

PIER Working Paper No. 11-001
Number of pages: 48 Posted: 05 Jan 2011
Antonio Merlo and Aureo de Paula
University of Pennsylvania - Department of Economics and University College London - Department of Economics
Downloads 76 (299,950)
Citation 2

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Voting, Voronoi tessellation, identification, nonparametric

Identification and Estimation of Preference Distributions When Voters are Ideological

CEPR Discussion Paper No. DP10821
Number of pages: 67 Posted: 16 Sep 2015
Aureo de Paula and Antonio Merlo
University College London - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 0
Citation 2
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identification, nonparametric, Voronoi tessellation, voting

36.

Endogenous Lobbying, Second Version

PIER Working Paper No. 04-043
Number of pages: 41 Posted: 08 Dec 2004
Leonardo Felli and Antonio Merlo
London School of Economics - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 76 (296,916)

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Lobbying, citizen-candidate, representative democracy, electoral competition

37.

Identification and Estimation of Stochastic Bargaining Models, Third Version

PIER Working Paper No. 10-008
Number of pages: 49 Posted: 07 Apr 2011
Antonio Merlo and Xun Tang
University of Pennsylvania - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 75 (299,230)

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Nonparametric identification, non-cooperative bargaining, stochastic sequential bargaining, rationalizable counterfactual outcomes

38.

Money, Political Ambition, and the Career Decisions of Politicians, Second Version

PIER Working Paper No. 10-009
Number of pages: 38 Posted: 24 Mar 2010
Michael P. Keane and Antonio Merlo
Arizona State University (ASU) - Economics Department and University of Pennsylvania - Department of Economics
Downloads 66 (320,918)
Citation 7

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politicians, political careers, monetary and non-monetary incentives, U.S. Congress

39.

Mediocracy, Second Version

PIER Working Paper No. 10-017
Number of pages: 39 Posted: 12 May 2010
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 63 (328,765)

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Politicians, Parties, Political Recruitment, Electoral Systems, All-pay Auctions

40.

A Structural Model of Turnout and Voting in Multiple Elections, Second Version

PIER Working Paper No. 06-021
Number of pages: 46 Posted: 21 Aug 2006
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 62 (331,336)
Citation 15

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elections, turnout, selective abstention, split-ticket voting

41.

Mediocracy, Fourth Version

PIER Working Paper No. 13-010
Number of pages: 36 Posted: 09 Feb 2013
Andrea Mattozzi and Antonio Merlo
European University Institute - Economics Department (ECO) and University of Pennsylvania - Department of Economics
Downloads 52 (360,538)

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Politicians, Parties, Political Recruitment, Electoral Systems

42.

Identification and Estimation of Stochastic Bargaining Models, Fourth Version

PIER Working Paper No. 11-035
Number of pages: 44 Posted: 20 Oct 2011
Antonio Merlo and Xun Tang
University of Pennsylvania - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 42 (393,739)

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Nonparametric identification and estimation, non-cooperative bargaining, stochastic sequential bargaining, rationalizable counterfactual outcomes

43.

Identification and Estimation of Preference Distributions When Voters are Ideological, Second Version

PIER Working Paper No. 13-055
Number of pages: 62 Posted: 09 Oct 2013
Antonio Merlo and Aureo de Paula
University of Pennsylvania - Department of Economics and University College London - Department of Economics
Downloads 39 (404,631)
Citation 2

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Voting, Voronoi tessellation, identification, nonparametric

44.

A Structural Model of Turnout and Voting in Multiple Elections, Third Version

PIER Working Paper No. 07-011
Number of pages: 49 Posted: 23 Feb 2007
Arianna Degan and Antonio Merlo
University of Quebec at Montreal (UQAM) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 37 (412,452)
Citation 14

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elections, turnout, selective abstention, split-ticket voting

45.

Some Unpleasant Bargaining Arithmetic?

PIER Working Paper No. 14-003
Number of pages: 31 Posted: 04 Feb 2014
Hulya Eraslan and Antonio Merlo
Rice University and University of Pennsylvania - Department of Economics
Downloads 36 (416,524)

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multilateral bargaining, voting rules, inequality

46.

External Validation of Voter Turnout Models by Concealed Parameter Recovery

PIER Working Paper 13-012
Number of pages: 26 Posted: 12 Feb 2013
Antonio Merlo and Thomas R. Palfrey
University of Pennsylvania - Department of Economics and California Institute of Technology - Division of the Humanities and Social Sciences
Downloads 33 (428,538)

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Turnout, voting, model validation, parameter recovery, laboratory experiments

47.

Identification of Stochastic Sequential Bargaining Models, Second Version

PIER Working Paper No. 10-008
Number of pages: 47 Posted: 24 Mar 2010
Xun Tang and Antonio Merlo
University of Pennsylvania - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 29 (446,140)

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Nonparametric Identification, Non-Cooperative Bargaining, Stochastic Sequential Bargaining, Rationalizable Counterfactual Outcomes

48.

Identification of Stochastic Sequential Bargaining Models

PIER Working Paper No. 09-037
Number of pages: 43 Posted: 22 Oct 2009
Antonio Merlo and Xun Tang
University of Pennsylvania - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 25 (466,108)
Citation 1

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Nonparametric identification, non-cooperative bargaining, stochastic sequential bargaining, rationalizable counterfactual outcomes

49.

Introduction to Economic Models of Crime

International Economic Review, Vol. 45, No. 3, pp. 677-679, August 2004
Number of pages: 3 Posted: 31 Aug 2004
Antonio Merlo
University of Pennsylvania - Department of Economics
Downloads 15 (520,632)
Citation 5
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50.

Bargaining Over Governments in a Stochastic Environment

JOURNAL OF POLITICAL ECONOMY, Vol 105 No 1, February 1997
Posted: 11 Feb 1997
Antonio Merlo
University of Pennsylvania - Department of Economics

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