Convergent evidence for detrimental effects of punishment on cooperation has been obtained in a wide variety of environments, ranging from American students facing punishment in laboratory experiments, to Israeli parents facing fines for arriving late to their child’s day care. We show here...

This paper addresses the issues of whether the linking of core labor standards withmultilateral or bilateral trade agreements is an effective way of promoting the improvement of labor standards. We review the determinants of core labor standards overtime and conclude that efforts to improve...

This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...

We discuss the strategic behavior of agents on a financial market in the presence of a central bank which is borrowing and lending money.

Electricity markets in the United States presently employ an auction mechanism to determine the dispatch of power generation units. In this market design, generators submit bid prices to a regulation agency for review, and the regulator conducts an auction selection in such a way that satisfies...

In this paper, we study the local dial-up Internet access market using a game theoretic model. Inparticular, we consider the Nash equilibrium of the service providers and examine their behavioron investment and output level. We calibrate this model to fit the industry structure and datafound in...