It can be argued that the competitiveness of an industry consists of two main parts: The production conditions and the utilization of these. The production conditions are largely determined by factors exogenous to the firms comprising the industry, including the economic environment, regulatory...

We consider efficiency measurement methods in the presence of uncertain input and output data, and without the (empirically problematic) assumption of convexity of the production technology. In particular, we perform a simulation study in order to contrast two well-established methods, IDEA and...

When losses caused by one agent onto another triggers losses to a third, "victim" turns into "injurer" in the chain's subsequent steps. Should agents be responsible for the direct loss they cause or also bear some of the indirect losses they trigger? Through an axiomatic approach, we...

We take a decentralized approach to regulating environmental pollution in settings where each agent's pollution possibly affects all others. There is no central agency to enforce pollution abatement or coordinate monetary transfers. Moreover, agents possess private information, which precludes...

We investigate the recent fee mechanism EIP1559 of the Ethereum network. Whereas previous studies have focused on myopic miners, we here focus on rational miners in the sense of having level-k foresight. We derive expressions for optimal miner behavior (in terms of setting block sizes) in the...