We examine the proper scope of public-private partnerships in the context of a project consisting of two tasks, building and operation of a facility. We investigate the optimal arrangement regarding bundling versus unbundling and private ownership versus public ownership. Like Bennett and Iossa...

In the context of public-good provision, despite noncontractibility of investments, it is possible to specify who is in charge of tasks such as construction and maintenance. We show that complementarity between the investments of the two tasks favors unbundling of tasks through different...

type="main" <title type="main">ABSTRACT</title> <p>This paper, by using annual surveys of Chinese manufacturing firms from 2001 to 2007, investigates the relationship between industrial agglomeration and employer compliance with required pension contributions. The result of panel fixed-effect estimation shows that in the...</p>

The paper studies agents’ investment decisions between general and speci…c in-vestments under di¤erent ownership structures in a thin, decentralized market where each agent’s decision a¤ects the decisions and welfare of other (otherwise unrelated) agents mainly through indirect market...

We study a model of centralized admissions in which schools are allowed to pre-commit to admitting qualified applicants who rank them as their top choices over more qualified applicants who do not. A less popular school may use the pre-commitment to steal applicants who otherwise would not...

This paper presents a model in which countries form economic unions which each determine common commercial policy and coordinate public good investment which generate cross-country externalities for its members. The scenario that all countries integrate into unions of the same size is studied....