innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may …

Cities generate negative, as well as positive, externalities; addressing those externalities requires both …

externalities', an increase in the size of the market brings forth additional products valued by others with similar tastes. But who … satisfaction grow in market size. We document this phenomenon across 246 US radio markets. By a mechanism that we term 'preference … benefits whom? We examine the patterns of and mechanisms for preference externalities between black and white and between …

Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather …

it uses and erode national regulatory systems. In general, it will suffer from the same type of market failure which …

change externalities from carbon emissions involve critical asymmetries. Small countries trade off own country costs of …

quantifies the external costs of global fuel subsidies using the latest available data and estimates from the World Bank and … unlikely to cost-effectively reduce these externalities as they do little to address traffic congestion or accidents, and only …

pipeline spills and accidents, important externalities – air pollution and greenhouse gas costs – have been largely overlooked …