When is the modeller introducing more error when analysing a Cournot market with private cost information - when ignoring market power or when ignoring the impact of incomplete information? Is the welfare loss at the market outcome driven by private information or by market power? The answer,...

WTO members are starting to consider whether and how to develop multilateral disciplines on competition policies. These discussions are taking place in the absence of concerted efforts to compile comparable information on the conditions of competition existing on member country markets. We argue...

A critical, but largely unexamined assumption in the debate over reform policy design, concerns the complementarity or substitutability of market competition and private ownership in increasing firm efficiency. We analyse a simple Cournot model that distinguishes two aspects of privatization...

What is the role of firms and markets in mediating the division of labour? This Paper uses confidential microdata from the Census of Services to examine law firms' boundaries. We first examine how the specialization of lawyers and firms increases as lawyers' returns to specialization increase....

This paper discusses proposed governance reforms of legal services markets. The model distinguishes between a status quo position supported by a system of professionally enforced collective reputation and forms of governance based more squarely on market mechanisms. We identify a number of...

Using a unique dataset we examine empirically which factors explain output per contributor in open source projects. We find that the output per contributor of open source programmes is much higher when licenses are less restrictive. Further examination suggests that the difference in output per...

Many cultural products have the same non-rival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic – societies tolerate monopolistic inefficiency in intellectual property (IP) protection...