Interest groups are introduced in a spatial model of electoral competition between two political parties. We show that the presence of these interest groups increases the winning set, which is the set of policy platforms for the challenger that will defeat the incumbent. Therefore interest...

The liberalization of many former state governed natural monopolies in sectors such as electricity, railroad and telecommunications is done by partial deregulation. Typically, entry is invited into elements of the production chain, yet under strict price and quality controls. This note considers...

We study participation games with negative feedback, i.e. games where players choose either to participate in a certain project or not and where the payoff for participating decreases in the number of participating players. We use the replicator dynamics to model the competition between...

The purpose of this paper is to investigate expectation formation in a controlled experimental environment. Subjects are asked to predict next periods price in an unknown, unstable nonlinear cobweb economy with expectational feedback. Subjects have no information about underlying market...

We investigate expectation formation in a controlled experimental environment. Subjects are asked to predict the price in a standard asset pricing model. They do not have knowledge of the underlying market equilibrium equations, but they know all past realized prices and their own predictions....

In its landmark ruling in Illinois Brick Co. v. Illinois, the U.S. Supreme Court restricted the right to sue for private damages suffered from violations of section 4 of the Clayton Act to direct purchasers. Despite the fact that typically antitrust injury is, at least in part, passed on to...

In its landmark ruling in Illinois Brick Co. v. Illinois, the U.S. Supreme Court restricted standing to sue for recovery of damages suffered from a breach of federal antitrust law to direct purchasers only. Even though typically antitrust injury is, at least in part, passed on to firms lower in...

An evolutionary game theoretic model of Cournot competition is investigated. Individuals choose from a finite set of different behavioural rules. Each rule specifies the quantity to be produced in the current period as a function of past quantities. Using more sophisticated rules may require...

We analyse the results of an experiment on expectation formation carried out last year (i.e., 2003) in the CREED laboratory in Amsterdam. The experiment involved 78 participants, who were asked to predict prices in artificial single-good economies, and were paid according to their accuracy in...

We present a dynamic model of endogenous interest group sizes and policymaking. The model integrates `top-down' (policy) and `bottom-up' (individual and social-structural) influences on the development of interest groups. Comparative statics results show that the standard assumption of...