Drawing on a recently-discovered correspondence archive of the 1840s, this article describes activities of the then most important land agency in Ireland, Messrs Stewart and Kincaid. Several of the firm’s clients resided in England. The partners supervised major agricultural improvements. They...

If an intermediary offers sellers a platform to reach consumers, he may face the following hold-up problem: sellers suspect the intermediary will enter their respective product market as a merchant after they have sunk fixed costs of entry. Therefore, fearing that their investments cannot be...

In a common market with costless mobility of all factors, regional governments can attract mobile firms by granting subsidies which must be financed out of wage taxes on mobile labour. Since firms locate where subsidies are highest and workers settle where taxes are lowest, government are forced...

This paper studies the market microstructure of pre-industrial Europe. In particular we investigate the institution of the broker in markets and fairs, and develop a unique data set of approximately 1100 sets of brokerage rules in 42 merchant towns in Central and Western Europe from the late...

We study a two-sided market where a platform attracts firms selling differentiated products and buyers interested in those products. In the unique subgame perfect equilibrium of the game, the platform fully internalizes the network externalities present in the market and firms and consumers all...

Dealers trading in a limit order market must choose both the order aggressiveness and the quantity for their orders. We empirically investigate how dealers jointly make these decisions in the foreign exchange market using a unique simultaneous equations model. The model uses an ordered probit...

When firms decide to change office space use, in many instances this involves relocation. Relocation involves sizablecosts to the firm that can to a large extent be characterized as lump sum, i.e. independent of the change in demand. Inthis paper we propose and solve a model of the demand for...

Deutschland durchläuft einen Prozess des demografischen Wandels. In den nächsten Jahrzehnten werden das Erwerbspersonenpotenzial spürbar zurückgehen und das Durchschnittsalter der Bevölkerung stark ansteigen. Wie die vorliegende Analyse zeigt, werden sich diese Entwicklungen deutlich auf...