The bulk of Information and Communication Technology is made of weightless, implementable and infinitely reproducible knowledge products (such as software and databases). These products are transferred by telephone lines, accessed through internet hosts and processed and exchanged through...

This paper examines the inflationary consequences of a currency changeover in the catering market. Empirical evidence from the Michelin Red Guide shows that: i) differently from restaurants in non-euro countries, restaurants in the euro area experienced abnormal price increases just after the...

We analyze trade between a price setting party (seller) who has private information about the quality of a good and a price taker (buyer) who may also have private information. Differently from most of the literature, we focus on the case in which, under full information, it would be inefficient...