We analyze the impact of a uniform price cap at electricity spot markets on firms investment decisions and on welfare. Since investment decisions for those markets are taken in the long run, fluctuating demand at the spot market eventually gives rise to high price spikes in case of binding...

The use of proxy variables to control for unobservables when estimating a production function has become increasingly popular in empirical works in recent years. The present paper aims to contribute to this literature in three important ways. First, we provide a structured review of the...

We analyze whether and how the fact that products are not sold on free, public, platforms but on competing for-profit platforms affects sellers’ investment incentives. Investments in cost reduction, quality, or marketing measures are here to joint and coordinated efforts by sellers. We show...

This paper presents a philosophical discussion of the ethical foundations of economic competition, based in large part on Emmanuel Levinas's theory of exteriority and of responsibility for the "Other". The claim is that competition, notwithstanding its positive effects in terms of efficiency and...

Les modèles de défauts de coordination ont pour objet le fonctionnement effectif des économies lorsque la fonction de coordination est laissée aux agents. Néanmoins, la réalisation des transactions à l'équilibre général et ses conséquences sur la détermination du niveau de...

This paper aims at linking cross border mobility of students and graduates with the financing of higher education. Against the background of institutional features and empirical evidence of the European Union and Northern America, a theoretical framework is developed. This allows analyzing the...

Using a new data set that allows us to analyze precisely the research output in all fields of science, we show that the gap in scientific performance between Europe, especially continental Europe, and Anglo-Saxon countries, especially the USA, is large. We measure research quality by the number...

Like active labour market programmes (ALPMs), grade repetition could generate two types of effects. Better/worse outcomes due to programme participation (i.e. the fact that pupils repeat a particular grade). This is what the existing literature on grade repetition has focused on. Another...

This paper evaluates the effects of grade retention on attainment by exploiting a reform introduced in 2001 in the French-Speaking Community of Belgium whereby the possibility of grade retention in grade 7 was reintroduced. It uses the Synthetic Control Method to identify the best possible...

Parfit's Repugnant Conclusion stipulates that under total utilitarianism, it might be optimal to choose increasing population size while consumption per capita goes to zero. We evaluate this claim within a canonical AK model with endogenous fertility and a reduced form relationship between...