ERIC BENNETT RASMUSEN


Last updated: August 1, 2001. URL: Php.indiana.edu/~erasmuse/vita.htm. Other pages have lists of abstracts of my published or unpublished papers. To see my photo click here."Rasmusen" is pronounced "Rass-muss-un," not "Razz-muse-en".

Office Address

Business Economics and Public Policy
Kelley School of Business, Indiana University, BU 451
(Click for map) 1309 East 10th Street , Bloomington, Indiana 47405- 1701
Office: (812) 855-3356. Secretary: Departmental Secretary (812) 855- 9219. Fax: (812) 855- 3354.
Email: [email protected]. Homepage: http://Php.indiana.edu/~erasmuse.

Industrial Organization

2. "Entry for Buyout," Journal of Industrial Economics (March 1988) 36: 281-300. In Acrobat.

3. "Stock Banks and Mutual Banks," Journal of Law and Economics (October 1988) 31: 395-422. Reprinted in Banking Law Anthology , Volume IV (1988), Bethesda, Md: International Library. In Ascii-Latex or Acrobat .

4. "Antitrust and Spatial Predation: a Response to Thomas J. Campbell," Columbia Law Review (June 1989) 1989: 1015-32 (with John Wiley). In HTML.

5. "A Simple Model of Product Quality with Elastic Demand," Economics Letters (1989) 29: 281-3. In Ascii-Latex or Acrobat.

7. "The Leasing Monopolist," UCLA Law Review (April 1990) 37: 693-732 (with J. Mark Ramseyer and John Wiley). In HTML.

8. "Diseconomies of Scale in Employment Contracts," Journal of Law, Economics and Organization (June 1990) 6: 65- 92 (with Todd Zenger). In Ascii- Latex or Acrobat) .

9. "Extending the Economic Theory of Regulation: The Form of Policy," Public Choice (1991) 72: 167-191 (with Mark Zupan). In Ascii-Latex or Acrobat.

10. "Naked Exclusion," American Economic Review (December 1991) 81 (5): 1137-1145 (with J. Mark Ramseyer and John Wiley). In HTML/Ascii or Acrobat. See also our reply to a comment/extension/correction by Siegel and Whinston and longer comments (ascii) (PDF version: .)

"Managerial Conservatism and Rational Information Acquisition, " Journal of Economics and Management Strategy (Spring 1992) 1: 175-202. In Ascii-Latex or Acrobat.

"The Learning Curve in a Competitive Industry" (with Emmanuel Petrakis and Santanu Roy ), RAND Journal of Economics (Summer 1997) 28: 248-268. In Ascii-Latex or Acrobat. Proofs available in Ascii-Latex or Acrobat.

Theory

"Moral Hazard in Risk-Averse Teams," RAND Journal of Economics (Fall 1987) 18: 428-435. In Ascii- latex..

Games and Information, Third Edition. Website at Http://Php.indiana.edu/~erasmuse/GI/index.html. Games and Information , Oxford: Blackwell Publishers. First edition, 1989. 344 pp., ISBN: 0-631-15709-3. Second edition, 1994, 478 pp., ISBN: 1-55786-502-7. Third Edition, 445 pp., ISBN: 0631215573, 2001.

Japanese translation by Moriki Hosoe, , Shozo Murata, and Yoshinobu Arisada, Kyushu University Press, Vol. I (1990), Vol. 2 (1991). Italian translation ( Teoria dei Giochi e Informazione ) by Alberto Bernardo, Milan: Ulrico Hoepli Editore (1993), ISBN: 8820320231. Spanish translation, Juegos e Informacion ) by Roberto Mazzoni, Mexico City: Fondo de Cultura Economica (1997) . Korean rights sold to United Consulting Group Limited. French rights sold to Editions de Boeck & Larcier. Chinese rights were sold to Sanlian Press, and a translation is being prepared by Yang Yao (CCER, Beijing University http://ccer.pku.edu.cn/en/eyyao.htm). A translation in Chinese Complex Characters is being done by the Wu-Nan Book Company in Taipei (http: //www.wunan.com.tw/) I have various materials available associated with the book-- errata, teaching aids, etc. at the website. For reviews, see later in this vita.

Readings in Games and Information, Oxford: Blackwell Publishers, 2001. ISBN's 0631215573 (paperback) and 0631215565 (hardback). The website is at Php.indiana.edu/~erasmuse/GI/gireader.htm.

"Cooperation in a Repeated Prisoner's Dilemma with Ostracism," Journal of Economic Behavior and Organization (August 1989) 12: 87-106 (with David Hirshleifer). In Ascii-Latex (60K) or Acrobat (*.pdf, 187K).

"Heterogeneous Players and Specialized Models," Rationality and Society (January 1992) 4: 83-94. Available in Ascii-Latex or Acrobat.

"Folk Theorems for the Observable Implications of Repeated Games," Theory and Decision (March 1992) 32: 147- 164. In Ascii.

"An Income-Satiation Model of Efficiency Wages," Economic Inquiry (July 1992) 30: 467-478. In Ascii-Latex or Acrobat.

"Are Equilibrium Strategies Unaffected By Incentives?" Journal of Theoretical Politics (July 1992) 4: 343-357 (with Jack Hirshleifer).

"Choosing Among Signalling Equilibria in Lobbying Games, " Public Choice (April 1997) 91: 209-214.
In Ascii-Latex or Acrobat.

"Strategic Implications of Uncertainty Over One's Own Private Value in Auctions" . Ascii-Latex and Acrobat ( Http://Php.Indiana.edu/~erasmuse/papers/auction.pdf).

"'Getting Carried Away' in Auctions as the Result of Imperfect Value Discovery" . Not circulating yet.

Law

"Mutual Versus Unilateral Mistake in Contracts," Journal of Legal Studies (June 1993) 22: 309-343 (with Ian Ayres). In Ascii or Acrobat.

"Judicial Legitimacy: An Interpretation as a Repeated Game, " Journal of Law, Economics, and Organization (April 1994) 10: 63-83. In Ascii-Latex or Acrobat.

"How Optimal Penalties Change with the Amount of Harm," < cite> International Review of Law and Economics (1995) 15: 101- 108. In Ascii-Latex or Acrobat.

"Predictable and Unpredictable Error in Tort Awards: The Effect of Plaintiff Self Selection and Signalling," International Review of Law and Economics (September 1995) 15: 323-345. In Ascii-Latex or Acrobat.

"Stigma and Self-Fulfilling Expectations of Criminality," Journal of Law and Economics (October 1996) 39: 519-544. In Ascii-Latex or Acrobat.

"Judicial Independence in Civil Law Regimes: Econometrics from Japan, " (with J. Mark Ramseyer ), Journal of Law, Economics, and Organization (1997) 13: 259-286 (lead article). Also published in Japanese as "Judicial Independence in a Civil Law Regime: The Evidence from Japan" in Leviathan: The Japanese Journal of Political Science (1998) 22: 116-149. The data on judicial careers is here. In Ascii-Latex or Acrobat.

"Lifting the Veil of Ignorance: Personalizing the Marriage Contract," (with Jeffrey Stake), Indiana Law Journal (Spring 1998) 73: 454-502. In Ascii , or Acrobat.

"Mezzanatto and the Economics of Self Incrimination," Cardozo Law Review (May 1998) 19: 1541- 1584. In Latex-Ascii or Acrobat.

Judicial Independence: Economic Theory and Japanese Empirics. (with Mark Ramseyer). Chicago: University of Chicago Press, forthcoming. Draft chapters are available at Php.Indiana.edu/~erasmuse/papers/jbook/jbook.htm.

Public Economics and Government

"Lobbying When the Decisionmaker Can Acquire Independent Information," Public Choice (1993) 77: 899- 913. In Ascii-Latex or Acrobat.

"Cheap Bribes and the Corruption Ban: a Coordination Game Among Rational Legislators," Public Choice (1994) 78: 305- 327 (with J. Mark Ramseyer ). In Ascii-Latex or Acrobat.

23. "The Posner Argument for Transferring Health Spending from Old Women to Old Men," Economics Letters (December 1996) 53: 337-339. In Ascii-Latex or Acrobat.

"Of Sex and Drugs and Rock'n Roll: Law and Economics and Social Regulation," Harvard Journal of Law and Public Policy (Fall 1997) 21: 71-81. In Ascii or Html.

"The Economics of Desecration: Flag Burning and Related Activities, " Journal of Legal Studies (June 1998) 27: 245-270 (lead article). In Ascii-Latex or Acrobat

31. "Observed Choice, Estimation, and Optimism About Policy Changes," Public Choice, (October 1998) 97: 65-91. There is a mistake in one of the explanations, which I point out in some notes that also discuss estimation of intercepts. The state-level data on illegitimacy, Dukakis votes, AFDC, and other correlates is here. In Ascii-Latex or Acrobat.

"The Observed Choice Problem in Estimating the Cost of Policies, " Economics Letters, (1998) 61: 13-15. In Ascii-Latex or Acrobat .

"Creating and Enforcing Norms, with Special Reference to Sanctions, " (with Richard Posner), International Review of Law and Economics, 19: 369-382 (September 1999). In Ascii and Acrobat.

"Review of Timur Kuran, Private Truths, Public Lies: The Social Consequences of Preference Falsification," Journal of Economic Behavior and Organization. (1998) 33: 309-311. In Ascii or Acrobat.

"The Uneasy Case for the Flat Tax," (with Frank Buckley), Constitutional Political Economy, (December 2000) (lead article) 11: 295-318. In Ascii and Acrobat .

"Oil in Sudan," a South Sudanese Friends International report, June 2000. In Ascii-HTML.

"The Parking Lot Problem" (with Maria Arbatskaya and Kaushik Mukhopadhaya ). Ascii-Latex or Acrobat (Http://Php.Indiana.edu/~erasmuse/papers/parking.pdf).

"Should Candidates Flip a Coin if the Difference in Their Votes is Small?" Ascii-Latex or Acrobat (Http://Php.Indiana.edu/~erasmuse/papers/coinflip.pdf).

Other

Public Policy and Economic Analysis , edited with Moriki Hosoe, Fukuoka, Japan: Kyushu University Press, 1997.

"Why the Japanese Taxpayer Always Loses," (with J. Mark Ramseyer ), Southern California Law Review, 72: 571-596 (January/March 1999). In Ascii and Acrobat.

"Skewed Incentives: Paying for Politics as a Japanese Judge, " (with J. Mark Ramseyer ). Judicature, 83:190-195 (January/February 2000) (cover article). In Ascii and Acrobat .

"Why is the Japanese Conviction Rate So High?" (with J. Mark Ramseyer ), Journal of Legal Studies , 30:53-88 (January 2001). In Ascii and Acrobat. The fuller, working paper version, with the tobit regressions and the mathematical derivations, is available at Acrobat.

38. "Why Are Japanese Judges so Conservative in Politically Charged Cases?" (with J. Mark Ramseyer ), American Political Science Review , 95: 331-344 (June 2001). In Ascii and Acrobat . Data available via (http: //php.indiana.edu/~erasmuse/papers/apsr2001.htm).

39. "Can High Prices Ensure Product Quality When Buyers do not Know the Sellers' Cost?" (with Timothy Perri), forthcoming, Economic Inquiry. In Ascii and Acrobat .

40. "Bertrand Competition Under Uncertainty" (with Maarten Janssen), forthcoming Journal of Industrial Economics. In Ascii-Latex and Acrobat

Book Chapters

1. "Recent Developments in the Economics of Exclusionary Contracts," Chapter 16 (pp. 371-388), Canadian Competition Law and Politics at the Centenary , edited by R. Khemani and W. Stanbury. Halifax: The Institute for Research on Public Policy, 1991.

2. "Defining the Mean-Preserving Spread: 3-pt versus 4-pt," Decision Making Under Risk and Uncertainty: New Models and Empirical Findings , edited by John Geweke. Amsterdam: Kluwer, 1992 (with Emmanuel Petrakis ). ISBN: 0-7923-1904-4. In Ascii-Latex or Acrobat.

3. "The Strategy of Sovereign Debt Renegotiations," The Handbook of Country Risk Analysis , edited by Ronald Solberg. London: Routledge Press, 1992. ISBN: 0-415-07855-5. In Ascii-Latex or Acrobat.

4. "Game Theory in Finance," The New Palgrave Dictionary of Money and Finance , edited by John Eatwell, Murray Milgate, and Peter Newman. New York: Stockton Press, 1992. In Ascii-Latex or Acrobat.

5. "Signal Jamming and Limit Pricing: A Unified Approach," in Public Policy and Economic Analysis, Moriki Hosoe and Eric Rasmusen, editors, Fukuoka, Japan: Kyushu University Press, 1997. In Ascii-Latex or Acrobat.

6. "Nuisance Suits," in The New Palgrave Dictionary of Economics and the Law , London: Macmillan Press, Peter Newman, editor. ISBN 1-56159-2153, May 1998. In Ascii-Latex or Acrobat.

7. "A Theory of Trustees, and Other Thoughts," in Public Debt and its Finance in a Model of a Macroeconomic Policy Game: Papers Presented at a Workshop held in Antalya, Turkey on October 10- 11, 1997. , ed. by Tahire Akder. Available, including a post- publication postscript, in Ascii-latex or Acrobat( http://Php.Indiana.edu/~erasmuse/papers/98.BOOK.trustees.NEW.pdf).

8. "Aphorisms on Writing, Talking, and Listening," Readings in Games and Information, Oxford: Blackwell Publishers, 2001. In Ascii-Latex and Acrobat .

9. "An Economic Approach to Adultery Law," forthcoming, Marriage and Divorce: An Economic Perspective, edited by Antony Dnesand Robert Rowthorn, Cambridge: Cambridge University Press. In Ascii and Acrobat (*.pdf).

Other Publications

3. "Review of Game Theory and the Social Contract: Volume 1, Playing Fair" by Ken Binmore, Journal of Economic Literature (December 1995) 33: 1979-80. In Ascii or Acrobat.

4. "Review of COMPETITION, COMMITMENT, AND WELFARE by Kotaro Suzumura, " Journal of Economic Literature (September 1996) 34: 1374-1376. In Ascii or Acrobat.

5. "Review Discussion: Game Theory and the Law" (with Kenneth Dau- Schmidt, Michael Alexeev, Jeffrey Stake and Robert Heidt), Law and Society Review (1997) 31: 613-629. In Ascii-HTML or Acrobat.

7. "Review of Coasean Economics: Law and Economics and the New Institutional Economics edited by Steven Medema," Journal of Economic Literature, 36: 2171-2174 (December 1998). In Ascii-Latex or Acrobat.

11. "Naked Exclusion: A Reply" (with J. Mark Ramseyer and John Wiley), the American Economic Review March 2000. In Ascii or Acrobat.

12. "Review of Economic Games and Strategic Behavior, by Frank Stahler," Zeitschrift fur die gesamte Staatswissenschaft (Journal of Institutional and Theoretical Economics [JITE] ), 71: 322-324. In Ascii or Acrobat

<

  1. "Economic Regulation and Social Regulation". Book project. The old 1992 draft is available in Ascii-Latex or Acrobat ( Php.Indiana.edu/~erasmuse/papers/social.pdf).

  2. "Option Contracts and Renegotiation in Complex Environments" (with Thomas P. Lyon ). In Ascii-Latex or Acrobat .

  3. "A Model of Negotiation, Not Bargaining: Explaining Incomplete Contracts." In Ascii-Latex or Acrobat (http://Php.indiana.edu/~erasmuse/papers/negot.pdf) .

  4. "The Economics of Agency Law and Contract Formation". In Ascii or Acrobat ( http://Php.indiana.edu/~erasmuse/papers/agency.pdf) .

  5. " The Economics of Gratitude: An Objection to "The Principle of Fairness'". In Ascii-Latex or Acrobat.

  6. "The Objectives of Sexual Harassment Law, with Application to 1998's Ellerth, Oncale, and Faragher Decisions." In Ascii or Acrobat.

  7. "How Bargaining Weakens Price Discrimination." In Ascii- Latex or Acrobat.

  8. "Naked Exclusion: Theory and Law" (with J. Mark Ramseyer and John Wiley) . In Ascii .


Back to the Rasmusen Homepage .