This paper analyzes the way payments by content providers to an Internet service provider may affect investment in Internet speed and content quality. It derives payment mechanisms capable of aligning investment incentives between the two groups; in fact, some of them are Pareto-improving also...

The management of internationally shared fish stocks is a major economic, environmental and political issue. According to international law, these resources should be managed cooperatively under international fisheries agreements (IFAs). This paper studies the formation and stability of IFAs...

One of the available and yet underappreciated tools in cultural policy at the national level is the reduction of VAT rates for cultural goods and services. We document the standard and reduced VAT rates in EU-28 countries in the period from 1993 to 2013 and explore the underlying determinants....

The Global Financial Crisis (GFC) of 2008 hit Denmark particularly hard. In this paper we argue that a combination of innovation in mortgage finance and the need to defend a euro exchange rate peg was partly responsible. Sustained pressure against the Danish krone forced the central bank to...

Highly productive economies require a flexible labor force with workers that move in accordance with the changing demand for goods and services. In times with falling housing prices, home owning workers' mobility may be hampered by a lock-in effect from low and negative equity. This paper...

Heritage institutions house cultural and research content, which is the key source to stimulate innovation. Despite the potential, heritage collections are mostly inaccessible via digital mediums. We analyze the macro, meso and micro conditions of heritage organizations across Europe to identify...

We study the fair allocation of a one-dimensional and perfectly divisible good when individuals have other-regarding preferences. Assuming no legitimate claims and purely ordinal preferences, how should society measure social welfare so as to satisfy basic principles of efficiency and fairness?...

From a game theoretical perspective, a prerequisite for an international fishery agreement (IFA) to be stable is that parties expect their benefits from joining the agreement to exceed the benefits from free riding on the agreement, and parties only comply with the agreement as long as this is...

We consider a class of three-player queuing games where players independently choose when to arrive at a bottleneck facility that serves only one at a time. Players are impatient for service but cannot arrive before the facility opens and they dislike time spent in queue. We derive the...

The present paper examines trade liberalization driven by the coordination of product standards. For oligopolistic firms situated in separate markets that are initially sheltered by national standards, mutual recognition of standards implies entry and reduced profits at home paired with the...