Virtual water trade refers to the implicit content of water in the production of goods and services. When trade is undertaken, there is an implicit exchange of water. Furthermore, when water gets scarce, water intensive goods become more expensive to produce and the economy compensates through...

I review two papers, addressing the issue of competition and quality determination in the market for Internet access services (Crémer, Rey, and Tirole (2000), Foros and Hansen (2001)). These two works come to seemingly opposite conclusions. After having summarized the two papers, I try to...

A recent literature, dealing with special markets characterized by bilateral network externalities, is summarized and critically assessed. Specific features of these markets, in terms of pricing principles and externalities, are discussed first. Afterwards, several issues related to competition...

In this article, we construct a model to study competing payment networks, where networks offer differentiated products in terms of benefits to consumers and merchants. We study market equilibria for a variety of market structures: duopolistic competition and cartel, symmetric and asymmetric...

Human-generated greenhouse gases depend on the level and emissions intensity of economic activity. Therefore, most climate change studies are based on models and scenarios of economic growth. Economic growth itself, however, is likely to be affected by climate change impacts. These impacts...

Copenhagen Consensus Center organized an initiative, in which an Expert Panel of outstanding economists convened in Washington DC in September 2009 to compile a prioritized list of specific solutions in the fight against Climate Change. The basis for the discussions and the ranking were...

The complexity of integrated assessment models (IAMs) prevents the direct appreciation of the impact of uncertainty on the model predictions. However, for a full understanding and corroboration of model results, analysts might be willing, and ought to identify the model inputs that influence the...

I review two papers, addressing the issue of competition and quality determination in the market for Internet access services (Crémer, Rey, and Tirole (2000), Foros and Hansen (2001)). These two works come to seemingly opposite conclusions. After having summarized the two papers, I try to...

In this article, we construct a model to study competing payment networks, where networks offer differentiated products in terms of benefits to consumers and merchants. We study market equilibria for a variety of market structures: duopolistic competition and cartel, symmetric and asymmetric...

A recent literature, dealing with special markets characterized by bilateral network externalities, is summarized and critically assessed. Specific features of these markets, in terms of pricing principles and externalities, are discussed first. Afterwards, several issues related to competition...