To examine the potential gains from a second production source, we examine how source switching is optimally structured. The model focuses on a purchaser who manages the acquisition process, an incumbent supplier, and a potential entrant or second supplier. Because the costs of the incumbent and...

Public policies are the outcomes of complex intertemporal exchanges among politicians. The political institutions of a country constitute the framework within which these transactions are accomplished. We develop a transactions theory to understand the ways in which political institutions affect...

Interconnection, equal access, unbundling, and industry structure are four key determinants of facilities-based competition in telecommunications. Using these building blocks, this paper analyzes the differences in telecommunications regulatory regimes in Australia, Chile, Guatemala, and New...

Utilities are characterized by three features: first, their required technologies are commonly considered specific, sunk investments; second, they display aspects of natural monopoly, including economies of scale and scope in the physical provision of basic services, economies of scale in...

¿Qué determina la capacidad de los países para diseñar, aprobar e implementar políticas públicas efectivas? Para abordar esta pregunta, este libro analiza el proceso de formulación de políticas en ocho países latinoamericanos en base a una metodología común con fundamentos en la...