simultaneously decrease the retail price and increase infrastructure quality. Second, we derive conditions under which reducing both … retail price and infrastructure quality relative to the integrated monopoly outcome increases welfare. Third, we argue that …

" theory (Drèze and Stern, 1990). By adopting this perspective, the change in consumers' welfare "with" and "without … welfare measures are subsequently used for the evaluation of the welfare effects related to price variations in seven British …

Uniform-price auctions of a divisible good in fixed supply admit underpricing equilibria, where bidders submit high … the amount of divisible good on offer change endogenously with its (uniform) price. Precommitting to an increasing supply …