The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency....

The standard contest model in which participants compete in a single dimension is well understood and documented. Multi-dimension extensions are possible but are liable to increase the complexity of the contest structure, mitigating one of its main advantages: simplicity. In this paper we...

This article assesses the role of the public sector in adaptation to climate change. We first offer a definition and categorization of climate change adaptation. We then consider the primary economic principles that can guide the assignment of adaptation tasks to either the private or the public...