This paper develops a theoretical model to study the effects of regulation on the housing market. Our model emphasises the following specific features of the housing market : product heterogeneity plays an important role, search costs are high, switching (moving) costs are substantial, and the...

This paper studies the role of money in asymmetric double coincidence of real wants environments where in each meeting each agent is a consumer of the other agent's production. Traders who meet at random finance their purchases through current production, sale of divisible money, or both. It is...

We investigate whether it is likely that the Swiss competition authority (WEKO) will approve the acquisition of Denner (the number 3 retailer in Switzerland) by Migros (the number 1 retailer). We argue that the decisions made by the European competition authorities are helpful guidelines in this...

This paper considers the economic analysis protection in Art. III GATT disputes. We first observe that the appropriate measure of protection and the level of protection that is acceptable have hardly been discussed in the case law and that panels tend to presume that a strong substitution...

When testing for measurement error, the vector of contrasts is the difference between the OLS and IV solutions. When testing for correlated measurement error, the OLS estimator must be replaced by a statistic which achieves consistency under the null hypothesis of uncorrelated measurement error....

The basic requirement for patient decision making is the provision by the physician of an essential relevant and understandable information (Evidence Based) allowing him to decide whether he wish or not to receive the proposed treatment. This analysis shows that the willingness to undergo a...

This paper provides a theory of corporate social responsibility in imperfectly competitive markets. We consider a two-stage game where consumers have a preference from buying goods from firms that do CSR and where firms first decide simultaneously the amount per unit sold to give to social...