Roy (Safety First and the Holding of Assets, 1952) argues that decisions under uncertainty motivate firms to avoid bankruptcy. In this paper, the authors ask about the behaviour of a monopolist who pre-commits to price when she has only probabilistic knowledge about demand. They argue that...

The constitutional conception of market integration within the European Union entails creating a level playing field for competition in the consolidated banking sector. The financial crisis of 2008 brought with it the need to proceed with care as it rolled back the gains of improving competitive...

This article presents a link between tariff rates and industry structure in a dynamic setting. We examine the role of tariffs on final-goods in a firm's decision to integrate and collude in the presence of competitive imports. It is shown that, under some conditions, the upstream firm has an...

Political economy scholarship generally assumes that governments are interested in enforcing economic regulations. Cases of non-enforcement are predominantly studied in the context of developing countries and are chiefly associated with states' deficient institutional capacity. This article...

Market equilibrium is an illusion. The economic reality shows us that the main characteristic of the markets is the state of instability. The complexity of the phenomenon and the strong implications engendered by the economic fluctuations in the macro system, justify the rich scientific research...

In the current historical and economic context of the globalised world, sensitive to fluctuations and liable to economic crisis, we find it especially important to analyse the concept of monetary stability. The purpose of this paper is to critically analyse the concept of monetary stability,...