The Kyoto and Copenhagen Protocols on climate change mitigation postponed the specification of binding commitments to a future negotiation. This paper analyzes the strategic implications of delayed negotiations. While, as is well-understood, the incentive to free ride leads to excessive...

Jean Tirole delivered his Prize Lecture on 8 December 2014 at the Aula Magna, Stockholm University.

Interview with 2014 Laureate in Economic Sciences Jean Tirole, 6 December 2014.

A major policy issue in standard setting is that patents that are ex-ante not that important may, by being included into a standard, become standard-essential patents (SEPs). In an attempt to curb the monopoly power that they create, most standard-setting organizations require the owners of...

type="main" <p>Product quality certifiers may not reveal the identity of unsuccessful applicants/sellers for three reasons. First, they respond to the desire of individual sellers to avoid the stigma from rejection. Second, nontransparency helps a certifier to increase his market power by raising...</p>

Contributing to a convergence of legal and economic approaches, The Economics of Antitrust and Regulation in Telecommunications integrates economic theory into current EU antitrust policy within the sector. The book addresses the role of competition and regulatory policies on a number of key...

The authors study an incentive model of financial intermediation in which firms as well as intermediaries are capital constrained. They analyze how the distribution of wealth across firms, intermediaries, and uninformed investors affects investment, interest rates, and the intensity of...