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...

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...

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...

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...

Aging of the population will affect the growth path of all countries. To assess the historical and future importance of this claim we use two popular approaches and evaluate their merits and disadvantages by confronting them to Swedish data. We first stimulate an endogenous growth. Rising...

School choice and accountability have become popular educational policies in the US and the UK. In Europe, such policies are less often applied and therefore less subject to research. The present paper uses recent international data to study the impact of schools comparing their pupil’s...

We propose four arguments favoring the idea that medical effectiveness, adult longevity and height started to increase in Europe before the industrial revolution. This may have prompted households to increase their investment in human skills as a response to longer lives and initiated the...