Four rankings of economics departments worldwide in terms of graduate education are constructed. The central methodological idea is that the value of a department is the sum of the values of its PhD graduates, as reflected in the values of their current employing departments. Scores are derived...

We investigate the effects of market transparency on prices in the Bertrand duopoly model for both the cases of strategic complementarities and strategic substitutes. For the former class of games “conventional wisdom” concerning prices is confirmed, since they decrease. The consumers are...

Duopoly firms engaged in a standard two-stage game of R&D and Cournot competition are caught in a prisoner's dilemma for their R&D decisions whenever spillover effects are low. This effect works to the advantage of consumers and society. This result provides an interesting perspective on the...