Liberalization of network industries frequently separates the network from the other parts of the industry. This is important in particular for the electricity industry where private firms invest into generation facilities, while network investments usually are controlled by regulators. We...

Electricity markets are prone to the abuse of market power. Several US markets employ algorithms to monitor and mitigate market power abuse in real time. The performance of automated mitigation procedures is contingent on precise estimates of firms' marginal production costs. Currently, marginal...

This paper compares and contrasts the processes used by the European, United Kingdom and Scottish parliaments in considering broadband policies, legislation, regulatory systems and outcomes, within a complex triple-tiered governance system. Broadband is of increasing importance due to the...

In order to encourage investment in telecommunication networks, governments have been encouraged to adopt a regulatory state model, with an independent regulatory authority that is subject to a system of appeals and to parliamentary oversight, providing different forms of accountability. The...

Die Sharing Economy hat sich durch die neuen Kommunikationsmöglichkeiten aus der Nische in die Mitte der Ökonomie katapultiert. Dabei betrifft das Phänomen sehr unterschiedliche Marktbereiche: vom altruistisch motivierten Teilen unter Freunden und Nachbarn bis zu kommerziellen...

Die Sharing Economy hat sich durch die neuen Kommunikationsmöglichkeiten aus der Nische in die Mitte der Ökonomie katapultiert. Dabei betrifft das Phänomen sehr unterschiedliche Marktbereiche: vom altruistisch motivierten Teilen unter Freunden und Nachbarn bis zu kommerziellen...

In the post-crisis period, increased regulation of financial intermediaries led to a significant decline in corporate bond market liquidity. In order to stabilize these markets, policy makers recently proposed that the trading of corporate bonds should be more centralized. In this paper, we show...

In financial markets, dealers may take advantage of information asymmetries and extract a rent from buy-side traders. We show that an increase in the precision of a benchmark reduces noise in market prices and increases participation by overcoming traders' and regulators' inability to penalize...

A speed bump in financial markets is an intentional delay imposed on trade execution. Its primary purpose is to mitigate asymmetric information by slowing down high-frequency traders (HFTs). In contrast to its intended purpose, this paper shows that a speed bump has the crowding-in effect on...