of future events, Manski (2004) has recently argued that there is little existing theory supporting this practice. We …

infrastructure coverage but reduces social welfare by softening competition. …

This paper compares the welfare effects of three ways in which health care can be organized: no competition (NC …), competition for the market (CfM) and competition on the market (CoM) where the payer offers the optimal contract to providers in …

in Seattle in August 2000. We discuss the strong connections between auction theory and 'standard' economic theory, and …

microfoundations, the welfare consequences of rent seeking can be studied. In particular, I show that competition among rent seekers …

Competition has been modelled in economic literature in a number of ways. What do these different parameterizations of … competition have in common? For instance, it turns out that it is not always the case that a rise in competition reduces price … cost margins, industry wide profits or concentration. All parameterizations of competition, considered here, have two …

local network externalities, in contrast to global network externalities, don't necessarily sharpen competition. Then we …

competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In … particular, this Paper shows that when matching is assortative and sellers’ investments precede market competition then … competition. These inefficiencies lead to sellers’ under-investments due to a hold-up problem but, when competition is at its peak …