[eng] The inefficiency of a chain of monopolies: an experimental study in a repeated-negotiation . situation by Alexis Garapin, Michel Hollard, Stéphane Robin and Bernard Ruffieux . Theory (bilateral monopoly, dual marginalisation) shows that a chain of monopolies is less efficient than an...

[eng] To assess how a public decision can affect citizens’ interests, we need to estimate individual preferences. Economists usually assess individual preference through a market decision. Most often, however, public decisions have an impact on non-market goods. Without a market to refer to,...