Japanese antitrust law exempts a variety of vertical and horizontal restraints that are commonly regarded as anti-competitive. Measures of market structure, market power and deadweight loss in the United States and Japan, however, indicate a striking similarity in the level of "competition" in...

Extreme inequality in Brazil is self-evident. The historian José Murilo de Carvalho emblematically chose to end his book on the history of citizenship in Brazil with the severe diagnosis that 'inequality is the slavery of today, the new cancer that hinders the constitution of a democratic...

The effect of a general school choice reform on student performance is studied in a Swedish institutional setting. A rich set of individual level data allows estimation of a value added specification, mitigating problems with omission of relevant variables. Increased school competition is shown...

A network market is a market in which the benefit each consumer derives from a good is an increasing function of the number of consumers who own the same or similar goods. A major obstacle that plagues the introduction of a network good is the ability to reach critical mass, namely, the minimum...

This paper considers the optimal design of dynamic research contests when the buyer can set time-dependent prizes. We derive the buyer-optimal contest and show that it entails an increasing prize schedule. Remarkably, this allows the buyer to implement a global stopping rule. In particular, the...