This book provides an economic analysis of various aspects of ‘market quality’, a new concept which emerged in the 21st century, using the tools of ‘oligopoly theory’ and ‘auction theory’ that evolved over the 19th and 20th centuries. In the economics literature the link between the...

In this paper we analyze some aspects of cronyism and corruption in an emerging economy. We develop a three-stage game-theoretic model where the ruling political party and a capitalist interact with each other. The ruling party, in return of a donation from the capitalist, sets a policy that...