Current methods of disseminating scholarly information focus on the use of journals who retain exclusive rights in the material they publish. Using a simple model we explore the reasons for the development of the traditional journal model, why it is no longer efficient and how it could be...

Interconnections can be an effective way to increase competition in wholesale electricity markets in particular for smaller markets with few actors. This paper quantitatively examines the potentials for interconnections in the Irish Single Electricity Market (SEM). We use a time-varying Kalman...

The first aim of this paper is to revisit the puzzle of cooperation in large-scale societies.It proposes a game theoretic model showing how endogenous emotion-based punishment can sustain ull cooperation when interactions are not repeated, provided that players' endogenous trust is high enough....

Historical evidence has taught us that it is often the poorest and most deprived people in unequal societies who are recruited to fight in civil wars. The present contribution constructs a theoretical model of the choice between appropriation and production, where conflict is represented as...

This paper studies a model of firm-sponsored investments in general human capital. When institutional settings permit simple contractual arrangements that are consistent with at-will employment, firms invest in a worker's general skills. And when market forces discipline contracts, the...

We study equilibrium retention rules in a dynamic common agency game. The decision to reappoint or not is made by a committee consisting of two principals: the retention decision is uncertain if the two principals disagree. We demonstrate that all equilibrium paths exhibit what we call strategic...

No voters cast their votes based on perfect information, but better educated and richer voters are on average better informed than others. We develop a model where the voting mistakes resulting from low political knowledge reduce the weight of poor voters, and cause parties to choose political...

In financial markets with asymmetric information, traders may have an incentive to forgo profitable deals today in order to preserve their informational advantage for future deals. This sort of manipulative behaviour has been studied in markets with one informed trader (Kyle 1985, Chakraborty...

This paper argues that wives in developing countries use domestic labour as a tool to incentivise husbands, especially when they lack power and cannot credibly threaten divorce. In Malawi, husbands often supplement farm income with wage labour. In our model, this creates moral hazard: husbands...

The use of correlation between forecasts and actual returns is commonplace in the literature, often used as a measurement of investors’ skill. A prominent application of this is the concept of the Information Coefficient (IC). Not only can IC be used as a tool to rate analysts and fund...