This paper provides a limit result for the provision of a public good in a mechanism design framework as the number of agents gets large. A canonical example for a public good that is produced with a direct provision technology is Open Source Software.

This paper analyzes the effects of intrafirm bargaining on the formation of firms in an economy with imperfect capital markets and contracting constraints. In equilibrium wealth inequality induces a heterogenous distribution of firm sizes allowing for firms both too small and too large in terms...

This paper investigates the effect of spillovers in a model of endogenous technical change resulting from learning or network effects on the existence of a lower bound to market concentration.

This paper looks at competition in the telecommunication industry. We determine the equilibrium pricing parameters for a duopoly situation with a particular emphasis on the role of competitively chosen non-reciprocal access prices. In the symmetric equilibrium the networks optimally choose...

This paper looks at the effects of entry on welfare in the telecommunication industry. The equilibrium pricing parameters for an incumbent (state) monopoly and for a duopoly situation are determined in which access charges are chosen non-reciprocally. A welfare comparison between the monopoly...

A popular argument about economic policy under uncertainty states that decentralisation offers the possibility to learn from local or regional policy experiments. We argue that such learning processes are not trivial and do not occur frictionlessly: Voters have an inherent tendency to retain a...

The general equilibrium model with incomplete financial markets (GEI) is extended by adding fiat money, fiscal and monetary policy and a cash-in-advance constraint. The central bank either pegs the interest rate or money supply while the fiscal authority sets a Ricardian or a non-Ricardian...