ERIC BENNETT RASMUSEN
Dan R. and Catherine M. Dalton Professor
Department of Business Economics and Public Policy
Kelley School of Business, Indiana University
Room HH 3080H, Hodge Hall, 1309 East Tenth Street, Bloomington,
Office: (812) 855-9219. Direct: (812) 855-3356. Cell: (812) 345-8573.
Messaging: [email protected] Fax:(812)
Last updated: August 6, 2016. URL: http://www.rasmusen.org/vita.htm.
Other pages have lists of abstracts of my published or unpublished papers.
pronounced "Rass-muss-un" not "Razz-muse-en", and my name can be
Katakana or Korean. Click for
maps to the
University High School,
B.A. Economics, Yale University, 1980 (magna cum laude)
M.A. Economics, Yale University, 1980
Ph.D. Economics, Massachusetts Institute of Technology, 1984 ("Essays
Nonprice Competition," advisor: Franklin Fisher. 2nd: Joseph Farrell)
Indiana University, Department of Business Economics and Public
School of Business: Dan R. and Catherine M. Dalton Professor, 2005-
Indiana University Foundation Professor, 2001-2005. Professor of
Public Policy, 1996-2002. Associate
University of California, Los Angeles, John E. Anderson Graduate
Management: Assistant Professor, 1984-1992.
Teaching Assistant, Economics Department and Sloan School,
of Technology, 1982-84.
Harvard University, Law School (John M. Olin Faculty Fellow) and
Economics Department (Visiting Professor) 2014-2015.
Oxford University, Nuffield College, visitor 2007-2008.
University of Tokyo, Center for International Research on the Japanese
Faculty of Economics: Visiting Professor, 2001.
Harvard Law School: John M. Olin Senior Research Fellow in Law and
Yale Law School: Olin Faculty Fellow, 1991-1992.
University of Chicago, Center for the Study of the Economy and the
Graduate School of Business (now the Stigler Center): John M. Olin
Visiting Assistant Professor of Business
- Game Theory and the Law (Economic
Approaches to Law
series, ed. by Richard A. Posner and Francesco Parisi). Edward
Publishing, 2007. PDF
- Measuring Judicial Independence: The Political
Economy of Judging
in Japan (with Mark Ramseyer). Chicago: University of
2003. ISBN: 0226703886. The website is at
http://rasmusen.org/published/jbook/jbook.htm. (204 Google
Scholar cites by 2014)
- Readings in Games and Information,
Blackwell Publishers, 2001. ISBN's 0631215573 (paperback) and
(hardback). The website is at http://rasmusen.org/GI/reader/gireader.htm.
- Public Policy and Economic Analysis ,
edited with Moriki
Fukuoka, Japan: Kyushu University Press, 1997.
Games and Information, Fourth Edition. Website at
http://www.rasmusen.org/GI/index.html. Games and
Publishers. First edition, 1989. 344 pp., ISBN: 0-631-15709-3.
edition, 1994, 478 pp., ISBN: 1-55786-502-7. Third Edition, 445 pp.,
0631210954, 2001. Fourth edition, 2006.
translation by Moriki
Hosoe, , Shozo
Murata, and Yoshinobu Arisada, Kyushu University Press, Vol. I (1990),
(1991). Italian translation ( Teoria dei Giochi e Informazione
Alberto Bernardo, Milan: Ulrico
Hoepli Editore (1993), ISBN: 8820320231. Spanish translation,
Informacion ) by Roberto Mazzoni, Mexico City: Fondo de
(1997). Chinese Complex Characters translation, Wu-Nan Book Company , Taipei (2003). (
www.wunan.com.tw/) Chinese Simplified Characters translations:, Yang Yao (CCER, Beijing
http://ccer.pku.edu.cn/en/eyyao.htm ), Liangjing
China Renmin University Press (4th edition). French translation:
information, Introduction a la theorie des jeux, Brussels: Editions de
Larcier (2004). Korean rights were sold to United Consulting
Norwegian rights to
Gyldendal Akademisk (Oslo). I have various materials available
with the book-- errata, teaching aids, etc. at the website. For
later in this vita. This book has 3,164 Google Scholar hits as of
- "Concavifying the Quasi-Concave," with Christopher
Connell. Forthcoming, Journal of Convex Analysis.
http://rasmusen.org/papers/quasi-connell-rasmusen.pdf (long, econ,
- ``A Model of Trust in Quality and North-South Trade.''
Forthcoming, Research in Economics.
- ``Law, Coercion, and Expression: A Review Essay on Frederick
Schauer's The Force of Law and Richard McAdams's The Expressive
Powers of Law.'' Forthcoming, Journal of Economic
- ``Leveraging of Reputation through Umbrella Branding: The
Implications for Market Structure,'' Journal
of Economics and Management Strategy, 25(2): 259-535 (Summer
- "Lowering the Bar to Raise Up the Bar: Licensing
Difficulty and Attorney Quality in Japan,"
with J. Mark Ramseyer. Journal of Japanese Studies, 41(1):
- "Exclusive Dealing: Before, Bork, and Beyond,"
J. Mark Ramseyer. Journal of Law and Economics, 57(S3): S145-
S160 (Aug. 2014).
- "Maximization Is Fine— But Based on What Assumptions?"
Econ Journal Watch. 11(2): 210-218 (May 2014).
- "Are Americans More Litigious? Some Quantitative Evidence"
(with J. Mark
Ramseyer). An American Illness , edited by Frank Buckley,
Yale University Press (2013).
- "First- versus Second-Mover Advantage with Information
Asymmetry about the Size of New Markets," (with Young-Ro Yoon).
Journal of Industrial Economics, 60: 374–405 (September 2012).
- "Internalities and Paternalism: Applying Surplus
Maximization to the
Various Selves across Time." Social Choice and Welfare, 38: 601-615 (2012).
- "Can the Treasury Exempt Companies It Owns from Taxes? The $45
General Motors Loss Carryforward Rule" (with J. Mark Ramseyer),
Papers on Public Policy, Vol. I, Article 1, pp. 1-54 (2011)
edited by Jeffrey Miron,
- "Executive Compensation in Japan: Estimating Levels and
from Tax Records" (with Minoru Nakazato and J. Mark Ramseyer).
of Economics and Management Strategy, 20: 843--885 (Fall 2011).
- "The Industrial Organization of the Japanese Bar: Levels and
Attorney Income," (with Minoru Nakazato and J. Mark Ramseyer).
of Empirical Legal Studies, 7: 460--489 (September 2010).
- "Career Concerns and Ambiguity Aversion,"
108: 175--177 (August 2010).
- "Public and Private Firm Compensation Compared: Evidence
from Japanese Tax
Returns," (with Minoru Nakazato and J. Mark Ramseyer).
Review, 25: 5--34 (Summer 2009).
- "Convictions versus Conviction Rates: The Prosecutor's
(with Manu Raghav and J. Mark Ramseyer). The American Law
Review, 11: 47--78 (Spring 2009).
- "The BLP Method of Demand Curve Estimation in Industrial
Organization," in Japanese in Gendai Keizaigaku 1, mikuro- bunseki,
edited by Isao
Miura and Tohru Naito, Tokyo: Keiso shobo, 2008. ISBN:
- "When Does Extra Risk Strictly Increase the Value of
The Review of Financial Studies, 20: 1647--1667 (September
- "Recruitment into Managed Courts during Political Chaos:
Japan in the
1990s," (with J. Mark Ramseyer). The Journal of
35: 329-345 (June 2007).
- "Norms and the Law," (with Richard McAdams)
Handbook of Law and
Economics, vol. 2, eds. A. Mitchell Polinsky and Steven
Shavell, chapter 20, pp. 1573-1618. Amsterdam, Elsevier (2007).
- "Strategic Implications of Uncertainty over One's Own Private
Auctions," in the BE Press journal, Advances in Theoretical
Vol. 6: No. 1, Article 7 (2006).
- "The Case for Managed Judges: Learning from Japan after the
Upheaval of 1993," (with J. Mark Ramseyer) University of
Law Review, 154: 1879-1930 (June 2006).
- "The Economics of Agency Law and Contract Formation,"
American Law and Economics Review, 6(2): 369-409 (Fall 2004).
- "Buyer-Option Contracts, Renegotiation, and the Hold-Up
(with Thomas P. Lyon )
of Law, Economics and Organization, 20: 148-169 (April 2004).
- "An Economic Approach to Adultery Law," Chapter 5, pp.
Marriage and Divorce: An Economic Perspective, edited by Antony
Robert Rowthorn, Cambridge: Cambridge University Press, 2002.
- "Bertrand Competition under Uncertainty" (with Maarten
The Journal of Industrial Economics , 50: pp. 11-21 (March
2002). In tex and pdf .
- "Can High Prices Ensure Product Quality when Buyers Do Not Know
Cost? " (with
Economic Inquiry , 39(4): 561-567 (October 2001).
In MS-WORD and pdf .
- "Explaining Incomplete Contracts as the Result of Contract-
in the BE Press journal, Advances in Economic Analysis
Vol. 1: No. 1, Article 2 (2001).
version with the two-period model, "A Model of Negotiation, Not
Explaining Incomplete Contracts," is available in pdf. A late version is
available in tex and pdf
- "Why Are Japanese Judges So Conservative in Politically
(with J. Mark
American Political Science Review , 95(2): 331-344
Data is here.
In MS-Word and pdf (104).
- "Aphorisms on Writing, Talking, and Listening,"
Readings in Games
and Information, Oxford: Blackwell Publishers, 2001.
- "Why Is the Japanese Conviction Rate So High?" (with J. Mark Ramseyer ), Journal
Studies , 30(1): 53-88 (January 2001). Data is
here. In ascii and
- "The Uneasy Case for the Flat Tax,"(with F. H. Buckley),
Constitutional Political Economy, (December 2000) (lead
295-318. In ascii and pdf .
- "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 pdf
- "Creating and Enforcing Norms, with Special Reference to
(with Richard Posner), International Review of Law and
19(3): 369--382 (September 1999). See also Chapter 9,"Social Norms,
with a Note on
Religion," in Frontiers of Legal Theory, edited by
Cambridge, Mass.: Harvard University Press (2001). In ascii and
- "Why the Japanese Taxpayer Always Loses,"(with J. Mark Ramseyer ), Southern
Review, 72: 571-596 (January/March 1999). Translated and
Nihon no nozeisha wa katenai no ka [Why Can’t Japanese Taxpayers
Win?], in Kohogaku
no ho to seisaku: ge [Law and Policy in Public Law: vol. 2] 147
(Mitsuaki Usui, et
al., eds., Tokyo: Yuhikaku, 2000). Data is
here. Rasmusen-99.SCLR.jpntax.pdf< .
- "The Observed Choice Problem in Estimating the Cost of
Economics Letters, (1998) 61(1): 13-15. Rasmusen_98.EC_LET.mchoice.pdf .
- "Observed Choice, Estimation, and Optimism about Policy
Public Choice, (October 1998) 97(1-2): 65-91. There is a
mistake in one of
the explanations, which I point out in some notes that
estimation of intercepts. The
state- level data on illegitimacy, Dukakis votes, AFDC, and other
- "The Economics of Desecration: Flag Burning and Related
The Journal of Legal Studies (June 1998) 27(2):
- "Mezzanatto and the Economics of Self Incrimination,"
Cardozo Law Review (May 1998) 19: 1541-1584. Rasmusen_98CARDOZO.mezz.pdf .
- "Lifting the Veil of Ignorance: Personalizing the Marriage
(with Jeffrey Stake), Indiana Law Journal (Spring
- "Of Sex and Drugs and Rock'n Roll: Law and Economics and Social
Harvard Journal of Law and Public Policy (Fall
1997) 21: 71-81. Rasmusen_97.HJLPP.Feder.htm.
- "Judicial Independence in Civil Law Regimes: Econometrics from
(with J. Mark
The Journal of Law, Economics, and Organization (1997)
(lead article). Translated and reprinted, Nihon ni okeru shiho no
kensho suru [Examining Judicial Independence in Japan],
[Leviathan: The Japanese Journal of Political Science] (1998)
(scanned here). Data is
here. In tex or
- "The Learning Curve in a Competitive Industry" (with Emmanuel Petrakis and Santanu Roy ), The
RAND Journal of
Economics (Summer 1997) 28: 248-268. In tex or pdf . Proofs available in tex or pdf .
- "Choosing among Signalling Equilibria in Lobbying Games,"
Public Choice (April 1997) 91: 209-214.
In tex or pdf .
- "Signal Jamming and Limit Pricing: A Unified Approach, "
Policy and Economic Analysis, Moriki Hosoe and Eric Rasmusen,
Fukuoka, Japan: Kyushu University Press, 1997.
- "Nuisance Suits," in The New
Dictionary of Economics and the Law , London: Macmillan
Press, Peter Newman, editor.
1-56159-2153, May 1998.
- "A Theory of Trustees, and Other Thoughts," in
Public Debt and its
Finance in a Model of a Macroeconomic Policy Game: Papers Presented at
held in Antalya, Turkey on October 10-11, 1997. , ed. by Tahire
also the discussion in
Judicial Independence. Available, including a post-publication
- "The Posner Argument for Transferring Health Spending from Old
Women to Old
Men," Economics Letters (December 1996) 53:
337-339. In tex or pdf
- "Stigma and Self-Fulfilling Expectations of Criminality,"
Journal of Law and Economics (October 1996) 39: 519-544. In
tex or pdf
- "Predictable and Unpredictable Error in Tort Awards: The
Effect of Plaintiff
Self Selection and Signalling," The International Review of
Economics (September 1995) 15: 323-345. In tex or pdf
- "How Optimal Penalties Change with the Amount of Harm,"
International Review of Law and Economics (1995) 15: 101-108.
In tex or pdf .
- "Judicial Legitimacy: An Interpretation as a Repeated Game,"
Journal of Law, Economics, and Organization (April 1994) 10:
tex or pdf (105).
- "Cheap Bribes and the Corruption Ban: A Coordination Game
Legislators," Public Choice (1994) 78: 305-327 (with
J. Mark Ramseyer ).
The Economics of Corruption and Illegal Markets (Gianluca
Stefano Zamagni, eds.: Edward Elgar, 1999). In tex or pdf (101).
- "Mutual versus Unilateral Mistake in Contracts,"
The Journal of
Legal Studies (June 1993) 22: 309-343 (with Ian Ayres). In tex or pdf .
- "Lobbying when the Decisionmaker Can Acquire Independent
Public Choice (1993) 77: 899- 913. In tex or pdf .
- "Are Equilibrium Strategies Unaffected by Incentives? "
Journal of Theoretical Politics (July 1992) 4: 343-357 (with
Hirshleifer). Reprinted in The Dark Side of the Force:
the Economic Theory of Conflict, edited by Jack Hirshleifer,
Cambridge University Press (2001).
- "An Income-Satiation Model of Efficiency Wages,"
(July 1992) 30: 467-478. In
tex or pdf .
- "Managerial Conservatism and Rational Information
Journal of Economics and Management Strategy (Spring 1992) 1:
tex or pdf .
- "The Strategy of Sovereign Debt Renegotiations,"
The Handbook of
Country Risk Analysis , edited by Ronald Solberg. London:
1992. ISBN: 0-415-07855-5.
- "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.
- "Folk Theorems for the Observable Implications of Repeated
Games," Theory and Decision (March 1992) 32: 147-164. In pdf .
- "Heterogeneous Players and Specialized Models,"
Society (January 1992) 4: 83-94. Reprinted as pp. 275-284 of
Polycentric Games and Institutions, edited by Michael
McGinnis, Ann Arbor:
University of Michigan Press, 2000. Available in tex or pdf .
- "Defining the Mean-Preserving Spread: 3-pt versus 4-pt,"
Decision Making under Risk and Uncertainty: New Models and Empirical
, edited by John Geweke. Amsterdam: Kluwer, 1992 (with Emmanuel
- "Recent Developments in the Economics of Exclusionary
Chapter 16 (pp. 371--388), Canadian Competition Law and
Politics at the
Centenary , edited by R. Khemani and W. Stanbury. Halifax: The
Research on Public Policy, 1991.
- "Naked Exclusion," American Economic Review,
1991) 81: 1137-1145 (with J.
Mark Ramseyer and
Rasmusen_91AER.exclusion.pdf (See also our reply to a
Siegel and Whinston (AER, March 1990: 90: 310-311) and longer comments
- "Extending the Economic Theory of Regulation: The Form of
Public Choice, (1991) 72: 167-191 (with Mark Zupan). In tex or pdf .
- "Diseconomies of Scale in Employment Contracts,"
Journal of Law,
Economics and Organization (June 1990) 6(1): 65-92 (with Todd
tex or pdf) .
- "The Leasing Monopolist," UCLA Law Review,
(April 1990) 37:
693--732 (with J.
and John Wiley). In
- "Cooperation in a Repeated Prisoner's Dilemma with Ostracism,"
Journal of Economic Behavior and Organization, (August 1989)
(with David Hirshleifer). In tex
or pdf (248).
- "A Simple Model of Product Quality with Elastic Demand,"
Economics Letters, 29(4) 281--283 (1989). In tex or
- "Antitrust and Spatial Predation: a Response to Thomas J.
Campbell," Columbia Law Review, (June 1989) 1989: 1015--1032 (with
John Wiley). In
- "Mutual Banks and Stock Banks," Journal of Law and
31: 395--422 (October 1988). Reprinted in Banking Law
, Volume IV (1988), Bethesda, Md: International Library. In tex or
- "Entry for Buyout," Journal of Industrial Economics
1988) 36: 281--300.
- "Moral Hazard in Risk-Averse Teams," RAND Journal
(Fall 1987) 18: 428--435.
Courses: G100: Business in the
Information Age (Introduction to Business) (B.A.) Microeconomics
(B.S.); G202: Business
Strategy in the Public Arena (Honors B.A.) Regulation (B.A.,
2004); G300: Business
G406, Regulation (B.A.,
Spring 2014); G492, Writing
(B.A., Spring 2005); X504: Microeconomics (M.B.A.); G570: Game Theory
(M.B.A.) ; Regulation (M.B.A.); G601: Game Theory and
Organization (Ph.D) ; G604:
Empirical Industrial Organization (Ph.D) ; C530:
Microeconomics (On-line "Kelley Direct" M.B.A. 2013) ; G751:
Game Theory (Ph.D. 2014).
Ph.D. Students: Stephan
(1995) (LECG), Carl Raul
(1997) (Baylor); Kelly
Lear-Nordby (1998) (LECG); Kaushik
(1999) (Emory) ; Sooyoung
( Chung-Ang finance,
Seoul, Korea); Jinwon Ahn (2005)
Commission on Policy Planning, Korea);
Barick Chung (2007) (Chinese U. of Hong Kong), In Hyeock (Ian) Lee (Western Kentucky
Raghav (2007) (Depauw); Changmin Lee (2008)
Finance). Kevin Woon-am Seok (2011) (Hanyang U.).
Born: 1958 in Urbana, Illinois.
Married to Dr. Helen Choi Rasmusen.
Home Address: Eric Rasmusen, 2810 Dale Court, Bloomington,
Indiana 47401. Cell: (812) 345-8573.
Erdos number: 5. SAT:(750+730)/1600. LSAT: 800/800.
Languages: English, some French.
Church: Clearnote Church, Bloomington, Indiana.
National Science Foundation Ph.D. Fellowship, 1980-1983.
L&EC Law Institute for Economists, 1986.
Associate editor, Journal of Economics and Management Strategy,
Lecturer, judicial institutes, George Mason Law and Economics
Center, 3+ times;
political science institutes, 3 times.
Director, Indiana Association of Scholars, 1998-2013. Lighthouse
Academy, 2010-2013. American Law and Economics Association, 2002-2005.
Other Publications-- Various
"Naked Exclusion: A Reply" (with J. Mark Ramseyer and John Wiley),
American Economic Review, 90: 310-311 (March 2000). In ascii or pdf. We have a longer version in
"Review of Game Theory and the Social Contract: Volume 1,
Fair" by Ken Binmore,
Economic Literature, 33: 1979-1980 (December 1995). In ascii or
"Review of COMPETITION, COMMITMENT, AND WELFARE by Kotaro
Journal of Economic Literature, 34: 1374-1376
(September 1996). In
ascii or pdf.
"Review Discussion: Game Theory and the Law" (with
Schmidt, Michael Alexeev, Jeffrey Stake and Robert Heidt), Law
Review, 31: 613-629 (1997). In html
"Review of Timur Kuran, Private Truths, Public Lies: The
Consequences of Preference Falsification," The
Journal of Economic
Behavior and Organization. (1998) 33: 309-311. In ascii or
"Review of Coasean Economics: Law and Economics and
Institutional Economics edited by Steven Medema,"
Economic Literature, 36: 2171-2174 (December 1998). In tex or pdf
"Review of Stahler, E: Economic Games and Strategic Behaviour:
Application," Journal of Economics/Zeitschrift für
71(3): 322-324 (October 2000).
Barnes v. Indiana, "Brief of John Wesley Hall, K.
Babe Howell, Eric
Rasmusen, Steven Russell, and Ronald S. Sullivan as
Amici Curiae in Support of Appellant's Petition for
Rehearing," Indiana Supreme Court, Case No. 82S05-1007-CR-343,
resistance to illegal police entry, 2011).
Mersino v. Sebelius 6th Circuit, No. 13-1944 (factors in
granting a preliminary injunction in an Obamacare mandate case, 2013)
The Meaning of 'Value' for Gift and Estate Tax Donee Limitations in
Tax Code 26 U.S.C. § 6324(B): An Amicus Brief for Marshall v.
"Auction Long-Distance Service for the Undecided," (with Ivan
The Wall Street Journal, (29 May 1985).
"Minimum Wage, Maximum Controversy: Raising Lowest Pay Rate Could
Economy," (with Ivan Png) Los Angeles Times,
IV-3 (Sunday 10
"Letter: Must Homeowners Lose Wealth When House Prices Fall?"
Economists' Voice, 3(4): Article 8,
"Letter: What Economists Can Contribute to the Global Warming
The Economists' Voice, 5(3) Article 2.
"Letter: Research Economist Support for the Stimulus Bill,"
Economists' Voice, 6(3): Article 6
1. Canning, David (1989) "Optimal Bidding," Times Higher
Supplement no. 867, June 16, 1989, p. 22.
2. Shin, Hyun Song (1989)"Games and Information: An Introduction to
Economic Journal, 99: 864--865 (September 1989).
3. Hare, Paul (1990)"ERIC RASMUSEN, Games and Information: An
Introduction to Game
Theory," Scottish Journal of Political Economy, 37:
4. Ayres, Ian (1990)"Playing Games with the Law," Stanford
42: 1291-1317 (May 1990).
5. Hipel, Keith (1990)"BOOK REVIEW: Rasmusen, Eric, Games and
Introduction to Game Theory, Basil Blackwell, Oxford, 1989,"
and Decision, 29: 161--163 (September 1990).
6. Schimmelpfennig, Jorg (1990)"RASMUSEN, ERIC: Games and
Introduction to Game Theory, Oxford: Basil Blackwell 1989. 352 pp.
Kyklos, 43: 689--690 (1990).
7. Borland, Jeff (1991)" Games and Information: An
Introduction to Game
Theory , by Eric Rasmusen (Basil Blackwell, Oxford, 1989), pp.
352. $ A65,"
Economic Record, 67: 175 (June 1991).
8. Leiniger, Wolfgang (1991) "Games and information: An introduction
theory," International Journal of Industrial Organization,
9. Mason, Charles F. (1991) "Games and information: A Review,"
Industrial Organization, 6(3): 317-319 (January 1991).
Research in Progress (some in early drafts; conclusions may
change; some may
never be finished)
- ``Why Use Requirement Contracts?
The Tradeoff between Hold Up and Breach.''
- "Coarse Grades," with Rick Harbaugh.
- "The Concealment Argument: Why No Conclusive Evidence
or Proof for
God's Existence Will Be Found"
- "Fine Tuning, Hume’s Miracle Test, and Intelligent
Design" with Eric Hedin.
- "Understanding Shrinkage Estimators: From Zero to Oracle
- The Economics of Regulation: Coercion for the Public
Good, book draft
- Project on measuring a survey respondent's location on the
Conservative/Liberal scale (with Mark Ramseyer).
- Project on revising the order of propositions and the problematic
Proposition 4 (Side-Angle-Side) in Euclid's Elements, Book I.
- Project comparing Han Fei and Machiavelli (with Dan Zhao).
- Project on the effects of public funding for burakumin
neighborhoods in Japan (with Mark Ramseyer)
- Project:``Odd, Enter; Even, Out: A Peculiarity of Buyout,
Blackmail, Extortion, and
Nuisance Suit Games.''
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