' efforts do not neutralize each other and their payoffs and competitive advantages depend on the networks they face. Our …

the first decade. The boom has been accompanied by concerns about negative externalities, including impacts to air, water … impacts and positive externalities, providing back-of-the-envelope estimates of their magnitude. The paper also summarizes the … current science and economics literatures on negative externalities. We conclude that the likely scope of economic benefits is …

equilibrium networks are nested split graphs. We also consider the problem of a planner, who can choose effort levels and place … split graph. However, the socially optimal network may be different from equilibrium networks and efficient effort levels do … may be too high or too low relative to efficient effort levels. The relevant applications are crime networks and R …

-consistent policy rules that implement the stochastic first best as long as a future market exists. We apply our theory to carbon …