In an economy where consumers are heterogeneous in their preferences over the hedonic and environmental attributes of goods on sale, we explore the effects of anti-consumerism and environmentalism. We show that when the environmental attributes of products come at the expense of the hedonic...

In the last decades, transitional countries of Central and Eastern Europe have engaged in strong privatization programs of public utilities. However, a large part of them did not meet legal and economic conditions needed for a market economy to take place. In this paper, we study how a firm...

Given the increasing share of the EU budget devoted to Regional Policy, several studies have tried to identify the policy’s contribution to regional economic growth. However, so far no consensus has been reached on the effectiveness of Cohesion policy, due to both limitations in data...

In this paper we address the following question : is it more profitable, for an entrant in a differentiated market, to acquire an existing firm than to compete? We illustrate the answer by considering competition in the banking sector.

In this paper, we examine how uncertainty can affect successive mar- kets, when uncertainty can jointly influence both the upstream and down- stream markets conditions. The main result of the paper is that the equi- librium input and output quantities under stochastic dependence can be higher or...

In this paper, we examine how uncertainty can affect successive markets, when uncertainty can affect both upstream and downstream markets' conditions. The main result of the paper is that the equilibrium solution depends on how much dependent are the events.

We consider a monopoly producing a good whose demand grows over time. Whatever the price policy which is adopted, the monopolist invests in order to meet the resulting demand growth. She can only invest in indivisible factory units. We identify the optimal price policy, and the ensuing optimal...

This paper presents a standard endogenous growth framework in which the source of growth is represented by vertical innovations. The crucial assumption we introduce is that there is a positive information gap concerning the discovery of innovation. The aim of reducing the...