This paper addresses the question of delegation in an organisation where there is an initial asymmetry of information between the principal and the agent. We assume that the principal cannot use revelation techniques à la Baron Myerson to elicit agent's superior information and in contrast, we...

In this paper we explain the apparent ''diversification discount'' of conglomerates without assuming inefficient-cross subsidisation through internal capital markets. Instead we assume that an internal capital market efficiently redistributes scare resources across a conglomerate's divisions...

This paper analyzes two business practices on the mobile internet market, paid prioritization and zero-rating. Both violate the principle of net neutrality by allowing the internet service provider to discriminate different content types. In recent years these practices have attracted...

Abstract The postal sector has undergone dramatic changes over the recent years under the double effect of ongoing liberalization and increased competition with alternative communication channels (e-substitution). As a result, the mail volume handled by the historical operator has declined...

In the postal sector, the financial burden of the universal service depends on its content, the postal market characteristics and the country’s geographical configuration. These three groups of factors affect both the direct cost of providing the service and the extent of competition on the...

In this paper we explain the apparent diversification discount of conglomerates without assuming inefficent-cross subsidisation through internal capital markets. Instead we assume that an internal capital market efficiently redistributes scare resources across a conglomerates divisions between...