resources when demand is uncertain and correlated. I find that market power of the monopolist providing flexible resources … distorts investment incentives, while competition mitigates them. The extent of improvement depends critically on demand … develops a theory of sequential investments in cybersecurity. The regulator can use safety standards and liability rules to …

in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and …. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand …