We perform a controlled experiment to study the welfare effects of competition in a strategic communication environment. Two equally informed senders with conflicting interests can misreport information at a cost. We compare a treatment where only one sender communicates to a treatment where...

The Association of Southeast Asian Nations (ASEAN) intends to create the ASEAN Economic Community (AEC) as a single market, to be completed by 2020. The single market will boost the competition in both ASEAN's internal and external markets, which will spur innovation. Creative innovation will...

I analyse a group contest in which groups decide over two dimensions of membership-exclusivity: whether a member is allowed to join the group at all, and whether this member is allowed to join another group as well. If the prize is mostly private, group leaders do not offer membership in...

Die Worte Wettbewerb und Gemeinwohl kommen im Grundgesetz nicht vor. In ständiger Rechtsprechung betont das Bundesverfassungsgericht, dass das Grundgesetz keine Entscheidung über die deutsche Wirtschaftsverfassung getroffen hat. Gleichwohl hat das Gericht häufig über das Verhältnis von...

Studies of spatial policy interdependence in (local) public policies usually concentrate on the relations between jurisdictions within a single analysed region, and disregard possible extra-regional effects. However, the theoretical spatial statistics literature shows that biased estimates might...

We integrate individual power in groups into general equilibrium models. The relationship between group formation, resource allocation, and the power of specific individuals or particular sociological groups is investigated. We introduce, via an illustrative example, three appealing concepts of...

This paper investigates how financial, trade, institutional and political liberalization policies have affected financial sector competition in Africa using updated data to appraise second generation reforms. The 'freedom to trade' and 'economic freedom' indices are employed. Hitherto,...

Opposing candidates for a political office often differ in their professional backgrounds and previous political experience, leading to both real and perceived differences in political capabilities. We analyze a formal model in which candidates with different productivities in two policy areas...

Should the FTC have allowed Zillow to acquire its foremost rival, Trulia? It is increasingly well-accepted that digital platforms tend toward dominance in their immediately adjacent relevant-product markets. Google, for example, has long held a majority share of the markets for general-search...

This paper reports quantitative implications of a stochastic endogenous growth model in which growth displays a concave relationship with respect to competition. This model is consistent with unavoidable facts related to market structure, that other innovation-based endogenous growth models fail...