It is our pleasure to introduce this special issue of Competition Policy International, dedicated to the Two-Sided Markets Symposia organized in May 2006 at University College London and June 2006 at MIT in Cambridge, Massachusetts. The contributions presented in this volume are a good...

Classical analysis of health insurance markets often focuses on adverse selection, which creates a direct externality between the enrollees of the same health plan: under an imperfect risk adjustment, the higher the risks of my co-enrollees, the higher my cost of insurance. This has lead to the...

This paper presents a simple model of banking equilibrium in which unconventional monetary policy serves as a tool to enhance the safety of the banking system. Every economy has two intrinsic characteristics: a "natural" debt-equity ratio which depends on the endowments of the infinitely risk...

"Balancing Cooperation and Competition in Retail Payment Systems: Lessons from Latin America Case Studies" presents the findings of four case studies in Latin America (Argentina, Brazil, Colombia and Mexico) that have explored the issue of cooperation and competition in different retail payments...

This chapter, which corresponds to an invited lecture at the Seventh World Congress of the Econometric Society, surveys recent theoretical developments in the use of multidimensional screening models in such applications as contract theory and pricing strategies

We study competitive nonlinear pricing in a model involving simultaneously horizontal and vertical product differentiation. It is a particular case of a more general model of optimal contracting with uncertain participation that we study elsewhere (Rochet-Stole (1997))