Abstract We analyze the impact of three controversial pipeline projects on the power structure in the Eurasian network for natural gas. Two pipelines, “Nord Stream” and “South Stream,” allow Russian gas to bypass transit countries, Ukraine and Belarus. The third project, “Nabucco,”...

In most cases rent control covers only a part of the housing stock. This note provides a simple analysis of the impact which rent control and non-price rationing exert on the rent in the free sector. It is shown that, depending on the rationing mechanism, rents in the free sector can be higher...

We analyze how a firm might protect quasirents in an environment of imperfect capital markets, where switching lenders is costly to the borrower, and contracts are incomplete. As switching costs make the firm vulnerable to ex post exploitation, it may want to diversify lending. Multiple-source...