We model trading and information diffusion in OTC markets, when dealers can engage in many bilateral transactions at … disruption of OTC markets with stylized facts from the empirical literature. We find more support for narratives emphasizing …

The increasing literature on the interactions between liberalization-integration of product markets and labour market … markets. Moreover, empirical studies have often focussed exclusively on the impact of certain labour market regulations … markets. As a result, while there are convincing theoretical arguments pointing to a potentially positive effect of product …

Motivated by the regulatory debate in electricity markets, we seek to understand how market design affects market …

How do firms' sales interact across markets? Are foreign and domestic sales complements or substitutes? Using a large … firms' demand on foreign markets to instrument yearly variations in exports. We use alternatively as instruments product …

We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is … driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and … high prices coupled with low quality in non-competitive (monopolistic) markets. We then introduce a regulated intermediate …

Centralized markets with large numbers of buyers and sellers are generally thought of as being competitive and well …-functioning. However, an important role of centralized markets is matching heterogeneous products, such as fish, to buyers of these …

This paper examines the properties of exams and markets as alternative allocation devices under borrowing constraints …. Exams dominate markets in terms of matching efficiency. Whether aggregate consumption is greater under exams than under … markets depends on the power of the exam technology; for a sufficiently powerful test, exams dominate markets in terms of …

This Paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces …