The question of whether exclusive licensing of the right to provide harbour towage services in ports can provide a superior outcome to open competition has been among the questions that have recently preoccupied Australian policymakers. The purpose of this paper is to evaluate the arguments for...

The following is a transcription of my discussion of the papers (published in this issue) that were presented in the Panel on Competition Policy in Card-Based Payment Systems session of the Antitrust Activity in Card-Based Payment Systems: Causes and Consequences conference.

Time consistency refers to situations where a policy that is optimal ex ante proves not to be optimal ex post, creating the risk of opportunistic policy reversals. While the threat of such reversals has received widespread attention in the theoretical literature, testing whether policy is indeed...

Time consistency refers to situations where a policy that is optimal ex ante proves not to be optimal ex post, creating the risk of opportunistic policy reversals. While the threat of such reversals has received widespread attention in the theoretical literature, testing whether policy is indeed...

The following is a transcription of my discussion of the papers (published in this issue) that were presented in the Panel on Competition Policy in Card-Based Payment Systems session of the Antitrust Activity in Card-Based Payment Systems: Causes and Consequences conference.

The question of whether exclusive licensing of the right to provide harbour towage services in ports can provide a superior outcome to open competition has been among the questions that have recently preoccupied Australian policymakers. The purpose of this paper is to evaluate the arguments for...

Thirty years ago the world's carriers established a system of international payments which recognized their interdependence and the requirement to provide services jointly. The accounting rate arrangements, as then devised, met this need while creating incentives for capacity expansion and...

Institutional design focuses on the task of providing accountability and effective monitoring of decision-making by bodies vested with the coercive powers of the state in a context where information is inherently limited, costly to acquire and asymmetrically distributed. This paper focuses on...