We consider the problem of a principal who wishes to contract with a privately informed agent and is not able to commit to not renegotiating any mechanism. That is, we allow the principal, after observing the outcome of a mechanism to renegotiate the resulting contract without cost by proposing...

We analyze the contracting problem of a principal who faces an agent with private information and cannot commit to not renegotiating a chosen contract. We model this by allowing the principal to propose new contracts any number of times after observing the contract choice of the agent. We...

This paper presents an analysis of the recent developments of average market power in Europe by using a broad firm-level database for EU member states. To indicate competitive pressure at the firm-level, markups are estimated following De Loecker (2011), and De Loecker and Warzynski (2012). The...

Procurement regulation aimed at curbing discrimination requires equal treatment of sellers. However, Deb and Pai (2017) show that such regulation imposes virtually no restrictions on the ability to discriminate. We propose a simple rule - imitation perfection - that restricts discrimination...

We characterize a monopolist's optimal offer of service plans when only informed customers know already at the contracting stage whether their demand is high or low, while uninformed customers may learn their demand only after incurring some costs, if at all. While informed customers purchase...

Contractual and regulatory provisions for access affect incentives to invest in an upgraded network and, in particular, a next-generation access network. Investment decisions are made under uncertainty and have to be made over time. This papers provides a framework for taking uncertainty, risk...

Suchmaschinen ermöglichen Nutzern einen schnellen Zugang zu Informationen, die sie konkret suchen oder die sie durch die Suchmaschine entdecken. Sie haben sich zu wichtigen Informationsintermediären entwickelt. Aufgrund ihrer zentralen Rolle in der Informationsvermittlung und der...

Der vorliegende Beitrag gibt einen Überblick über die wesentlichen ökonomischen Aspekte der so genannten Sharing-Economy. Bei den dort tätigen Unternehmen handelt es sich zumeist um Plattformen, die direkte Transaktionen zwischen Akteuren mit dem Zweck einer temporären Nutzung dauerhafter...

Central features of today’s electronic communications markets are complementarities between the different layers of the value chain, substitutability between some applications, network effects in the provision of content and services, two-sided business models that partly involve indirect...

Wir untersuchen die Rolle von Vertragstypen und Zugangsregulierung auf Innovation und Wettbewerb. In einem Duopolmodell zeigen wir, dass Ex-post-Verträge, die nach den Investitionsentscheidungen getroffen werden, zu einer Welt führen, in der seltener Infrastruktur dupliziert wird, in der es...