This paper identifies two types of market failures. The first concerns a coordination problem associated with panics. The problem in analysing this type of market failure from a policy perspective is that there is no widely accepted method for selecting equilibria. The second market failure...

Vorliegender Beitrag nimmt kritisch Stellung zur der von Adams in der Zeitschrift für Wirtschaftsrecht (ZIP) veröffentlichtenAnalyse der Kapitallebensversicherung.

Vorliegendes Arbeitspapier beschäftigt sich mit Verkehrsinformationsdienste für Nutzer des motorisiertenIndividualverkehrs und des öffentlichen Personennahverkehr.

In this essay I compare two different theoretical frameworks in economics for orientinganalysis of issues in technology policy. One is a neoclassical framework that sees appropriatepolicies as dealing with “market failures”. The other framework is provided by an evolutionaryand institutional...

•One tentative estimate places the incidence of transfer failure at around 100,000 per year, although many of these ‘failures’ involve micro businesses, with few assets or employees, and which may not be viable candidates for transfer. Through a literature review, focus groups with those...

Extreme adverse selection arises when private information has unboundedsupport, and market breakdown occurs when no trade is the only equilibriumoutcome. We study extreme adverse selection via the limit behavior of afinancial market as the support of private information converges to an...

Public security is an essential precondition for personal freedom, civil liberties, and the functioning ofpolitical institutions in a market economy. The protection against infringements from third partiesagainst life and limb is an important human need.1 Whether people feel secure or insecure...

This report assesses the key drivers, environmental pressures and some impacts from the production and consumption of energy, taking into account the main objectives of the European policy on energy and environment including: security of supply, competitiveness, increased energy efficiency and...

Der Neue Markt soll wachstumsorientierten Unternehmen den Zugang zur Börse eröffnen. Diefür dieses Marktsegment neu geschaffene Institution des Betreuers soll Vorbildcharakter fürandere Marktsegmente haben. In der vorliegenden Arbeit werden Vor- und Nachteile desBetreuer-Konzeptes...