-allocation across provinces and sectors between 1985 and 2007. We also decompose the overall loss into factor market distortions within …-allocation remained fairly constant. We argue that the recent increase in capital market distortions is related to government policies …

This paper looks at the risk dimension of water markets under uncertain water supply. We model market participants …` decisions under uncertainty and evaluate gains from trade under two different market arrangements. These differ in the … confidence that irrigators can place in the water market-clearing processes, and their chances of pursuing tactical responses to …

Tail dependence characterizes cross market linkages during periods of extreme price behavior. Analyzing tail dependence … can richly inform market participants, in particular those operating across several markets how to understand price risk … observations like price spikes tend to occur jointly across these markets. Our results provide market participants with more timely …

introduce a model of the market for advertising on news media outlets whereby news outlets are modeled as competing two … equilibrium outcomes in the advertising market. One consequence is that multi-homing on the part of advertisers is heterogeneous …