In the art market there is evidence that arbitrage does not necessarily equalize prices of comparable objects across different cities of sale. The aim of this study is to analyze why the distribution of prices differs between New York (NY) and the Rest of World (RoW). Two questions are...

This paper addresses a question that has so far been partially neglected by the literature: does public health care expenditure crowd out private health care expenditure? It shows that with an undersupply of public health, public and private health care may behave as complements even if they are...