How do changes in the market architecture affect the dynamics of deregulated electricity prices? We investigate this issue in the context of the Italian Power Exchange (IPEX), using data on the daily average day-ahead price (PUN) between April 2004 and December 2008. Estimates of baseline time...

This work introduces a special issue of the Journal of Economic Behavior and Organization on the emergence and impact of market institutions in wholesale fish markets. The analysis of fish markets has a respectable pedigree also in terms of the description of how they function. A major advantage...

This paper proposes a general framework to account for the divergent results in the empirical literature on the relation between firm sizes and growth rates, and on many results on growth autocorrelation. In particular, we provide an explanation for why traces of the LPE sometimes occur in...

Harberger's "A Vision of the Growth Process", Presidential Address at the 1998 Annual Meeting of the American Economic Association, provides evidence that contributions to aggregate real cost reduction (RCR) are concentrated in a small number of industries. According to Harberger, this is...