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This paper analyzes the role of private storage in a market for a commodity (e.g. natural gas) whose supply is subject to the threat of an irreversible disruption. We focus on the medium term in which seasonality of demand and exhaustibility can be neglected. We characterize the price and...
Persistent link: https://www.econbiz.de/10011071991
This paper surveys the existing theoretical and empirical research on long term contracts inspired by the American experience. We analyze the role of take-or-pay clauses and price indexation rules, questioning whether regulation distorts optimal contract duration. The models we summarize allows...
Persistent link: https://www.econbiz.de/10010707189
Cet article propose une réflexion sur l’action publique pour accompagner, orienter et réguler les transformations et les différenciations régionales face à la mondialisation. Les défis pour l’État sont importants dans la mesure où il existe, à côté des grandes agglomérations, des...
Persistent link: https://www.econbiz.de/10011072149
Face à la mondialisation et à l'élargissement de l'Union européenne, le groupe de travail présente les conséquences pour les entreprises françaises notamment pour la répartition des activités entre les régions, les évolutions possibles des économies régionales, l'emploi et propose...
Persistent link: https://www.econbiz.de/10011072519
Persistent link: https://www.econbiz.de/10011074285
The concept of a barrier to entry has been discussed least since Bain [1956] with important contributions by Spence [1977], Dixit [1980] and Milgrom-Roberts [1982]. The more recent discussion is synthesized in the contributions to a dedicated session at the 2004 AEA meeting. Yet, a 'barrier to...
Persistent link: https://www.econbiz.de/10011166351
Persistent link: https://www.econbiz.de/10010765453
The key role of institutions for economic performance has recently been acknowledged in the economic policy debate. This paper aims at pointing out the main policy lessons and the recommendations to be drawn from New Institutional Economics (NIE), when considering the organization of markets. We...
Persistent link: https://www.econbiz.de/10010765457
Persistent link: https://www.econbiz.de/10010765459
Regulators often do not regulate all firms competing in a given sector. Due to product substitutability, unregulated competitors have incentives to bribe regulated firms to have them overstate their costs and produce less, thereby softening competition. The best collusion-proof contract entails...
Persistent link: https://www.econbiz.de/10010795034