We adopt a framework of vertical differentiation (i.e. differentiation by quality) to study the issue of Corporate Social Responsibility (CSR). We develop a model of duopoly in a two‐country setting, in which firms choose the country of location, the level of CSR and finally compete in the...

Afriat proved the equivalence of a variant of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function rationalizing the choices of a competitive consumer. We extend Afriat's theorem to a class...

The French law "Nouvelle Organisation du Marché de l'Electricité" makes available, at a regulated price, withdrawal rights to source low-cost electricity production from nuclear plants owned by the incumbent. Downstream market retailers benefit from such a measure, up to a given amount fixed...

A firm chooses a price and the product information it discloses to a consumer whose tastes are privately known. We provide a necessary and sufficient condition on the match function for full disclosure to be the unique equilibrium outcome whatever the costs and prior beliefs about product and...

We study an economywhere intermediaries compete over contracts in a nonexclusive insurance market affected by moral hazard. In this context, we show that, contrarily to what is commonly believed, market equilibria may fail to be efficient even if the planner is not allowed to enforce...

L’ouverture des économies ne s’est pas, dans tous les cas, accompagnée d’une intensification spontanée de la concurrence. Dans certains secteurs, l'ouverture commerciale a sans doute favorisé la concentration où l’apparition de nouveaux monopoles ou duopoles mondiaux. Loin...

We analyze markets where insurers are better informed about risk than consumers. We show that even competitive markets may result in insufficient information revelation and inefficient insurance coverage. This explains why certain risky consumers remain uninsured and why certain market segments...