announcement of the tax rate seems to be preferable to solve hold-up problems with respect to the investment in environmental R …

This paper studies investment incentives in the steady state of a dynamic bilateral matching market. Because of search … underinvestment on both sides of the market. But when market frictions become negligible, the equilibrium investment levels tend …

This paper studies investment incentives in the steady state of a dynamic bilateral matching market. Because of search … underinvestment on both sides of the market. But when market frictions become negligible, the equilibrium investment levels tend …