Digital markets worldwide are in rapid flux. The Internet and World Wide Web have traditionally evolved in a largely deregulated environment, but recently governments have shown great interest in this rapidly developing sector and are imposing regulations for a variety of reasons that are...

It has been argued that the fiscal equalization process in Australia, which transfers wealth between states, has efficiency costs. Here, the author shows that equalization transfers can be efficiency enhancing. Further, it is shown that, under certain assumptions about interstate differences in...