Scholars tend to assume that in terms of institutional shape the US is generally more hierarchical and centralized than the EU and in terms of market integration the former is more of a single free market than the latter in the sense of fewer allowable trade restraints. This paper, however, in...

An imperfectly-informed regulator needs to procure multiple units of some good (e.g., green energy, market liquidity, pollution reduction, land conservation) that can be produced with heterogeneous technologies at various costs. How should she optimally procure these units? Should she run...