This study aims at characterizing the optimal regulation of risky activities when risk assessment is subjective as a result of ambiguity on the probability of an accident. The attitudes toward ambiguity held by stakeholders form subjective risk perceptions, which substantially affect the optimal...

We examine whether agency contracts, more than traditional wholesale contracts, facilitate collusion among upstream manufacturers. We develop an infinitely repeated game with a monopoly platform and multiple manufacturers, and show that the agency contract does not facilitate upstream collusion....

In platform markets, consumers often choose which platform to use for making a bundle of transactions with sellers rather than for each transaction. Based on a competition-in-utility framework, I analyze the impact of such usage lock-in on platform competition. Usage lock-in allows platforms to...