This paper finds an optimal mechanism for selling an indivisible good to consumers who may be budget-constrained. Unlike the case where buyers are not budget constrained, a single posted price is not typically optimal. An optimal mechanism generally consists of a continuum of lotteries indexed...

During the last decade, Latin American countries have brought about important reforms in infrastructure services based both on private sector participation for enhancing internal efficiency and competition for increasing consumer welfare. Infrastructure services have evolved from monopoly and...

This book examines America's economy over the past several decades and the sources of our recent success and comes to surprising conclusions about what we can learn from it.

Background: Competition in the banking industry has been an important topic in the scientific literature as researchers tried to assess the level of competition in the banking sector. Objectives: This paper has an aim to investigate the market structure and a long term equilibrium of the banking...

The article examines how the existence of a retailer owned brand, private label, effects the price setting of a national brand.