La pollution est incorporee comme une externalite de production dans le modele de concurrence monopolistique des produits differencies. Nous adoptons la version de Krugman d'un modele propose par Dixit et Stiglitz pour etudier l'effet d'un effort de depollution et celui de la taille du marche...

We compare the economic efficiency of a publicly-owned utility directly controlled by the government with a publicly-owned utility regulated by a public utility commission (PUC). Regulation by a PUC is modelled as a Nash equilibrium of a game between two principals, the government and the PUC,...

We estimate the gain in productivity that is realized by paying workers piece rates rather than fixed wages; i.e., the incentive effect.

In November 1995 the Government of the Province of Ontario (Canada) created an independent commission, the Macdonald Commission, to analyse Ontario's electricity industry and provide proposals for a transition to a competitive market. We present an overview and analysis of the proposals.

This paper looks at speculative behavior in one of the largest, and most volatile, international financial markets, petroleum derivatives. It utilizes a large, detailed database on individual trader positions in crude-oil and heating-oil futures markets. The paper is exploratory, focusing on...

Given the choice sets produced by a pair of Condorcet social choice correspondences, the following interesting questions arise. Does one of these sets always contain the other? If not, do they always intersect or, on the contrary, can they have an empty intersection?