This study delves into a market characterized by vertical product differentiation. Product qualities are represented on a one-dimensional interval scale. The research investigates the equilibrium within a monopoly scenario, considering a production cost that is strictly convex. The monopoly...

The Coase theorem has been shrouded in ambiguity and confusion throughout its life, this despite the prominent role that it plays in economic and legal analysis. As this paper demonstrates, this is no less true of the path by which Coase came to the result that bears his name. Drawing on...

We investigate the causal impact of public discourse on socially responsible market behavior. Across three laboratory experiments, having market participants engage in public discourse generally increases market social responsibility. These positive impacts are robust to variation in several...

We investigate policies for increasing recycling to facilitate decarbonization within the basic material sector, including market-based policies, such as carbon pricing, advanced disposal fee and minimum recycled content requirement, and non-market policies, such as product design standard. We...

We propose an urban land use model to discuss the conversion of customary agricultural land to formal and informal residential land in a developing country city. Because customary land sales are insecure, migrant buyers face a risk of eviction, which affects land markets in non-trivial ways....

This paper revisits the path by which Coase developed the result now known as the Coase theorem, including the famous meeting at the home of Aaron Director during which Coase ‘converted’ a group of Chicago economists to his way of thinking. Drawing on published and archival sources, we...

Does market exposure shape civic values and rules that constrain opportunistic behavior and foster generalized cooperation? I investigate this question using a natural experiment on market location from Ethiopia, where exchange is prone to cooperation problems from asymmetric information and...

A new framework for studying markets as the product of organizational planning and understanding the practical limits of market design. The Western energy crisis was one of the great financial disasters of the past century. The crisis began in April 2000, when price spikes started to rattle...

We investigate policies for increasing recycling to facilitate decarbonization within the basic material sector, including market-based policies, such as carbon pricing, advanced disposal fee and minimum recycled content requirement, and non-market policies, such as product design standard. We...

The Coase theorem has been shrouded in ambiguity and confusion throughout its life, this despite the prominent role that it plays in economic and legal analysis. As this paper demonstrates, this is no less true of the path by which Coase came to the result that bears his name. Drawing on...

We investigate the causal impact of public discourse on socially responsible market behavior. Across three laboratory experiments, having market participants engage in public discourse generally increases market social responsibility. These positive impacts are robust to variation in several...

It is necessary for economies to transition to a circular economy (CE). What particularly inhibits the implementation of the CE in linear economies is market failures, whose theoretical principles are embedded in modern welfare economics and neoclassical economics. Market failures shape the...

The existing literature on withdrawal from foreign markets leaves several questions unanswered. We propose alignment between cohesive learning from failure and the intrinsic motivation to reemerge after failure. The study contends that failure is not considered an ultimate demise but as a...

We propose an EU Safe Generative AI Innovation Program to address a market failure in generative AI development. While developers can capture significant value from generative AI capability improvements, they bear only a fraction of potential safety failure costs, which leads to underinvestment...

The European Union's economic vitality heavily relies on small and medium-sized enterprises (SMEs), which drive innovation, productivity, and strategic technology dissemination. Despite their importance, SMEs face significant challenges, particularly in accessing finance, which limits their...

Dieses Interview gibt Auskunft über die normative Ambivalenz des zivilgesellschaftli-chen Sektors. Einerseits erfüllen NGOs wichtige wirtschaftliche und politische Funktio-nen. Sie stellen Güter und Dienstleistungen bereit. Und sie engagieren sich in der öffent-lichen Interessenvertretung....

Not all countries provide universal access to publicly funded paid sick pay. Amongst countries that do, compensation rates can be low and coverage incomplete. This leaves a significant role for employer-provided paid sick pay in many countries. In this paper, we study who has access to...

Digital platforms facilitate interactions between consumers and merchants that allow collection of profiling information, which drives innovation and welfare. Private incentives, however, lead to information asymmetries resulting in market failures both on-platform, among merchants, and...

This paper revisits the path by which Coase developed the result now known as the Coase theorem, including the famous meeting at the home of Aaron Director during which Coase 'converted' a group of Chicago economists to his way of thinking. Drawing on published and archival sources, we discuss...

We propose an urban land use model to discuss the conversion of customary agricultural land to formal and informal residential land in a developing country city. Because customary land sales are insecure, migrant buyers face a risk of eviction, which affects land markets in non-trivial ways....

Does market exposure shape civic values and rules that constrain opportunistic behavior and foster generalized cooperation? I investigate this question using a natural experiment on market location from Ethiopia, where exchange is prone to cooperation problems from asymmetric information and...