We present a simple model where unemployment benefits are determined in an economy in which there is endogenous delay in finding a job so that workers desire insurance against the possibility of unemployment.

The main section of the paper analyzes the principles and practice of competition policy for utilities under six headings: price discrimination and cross-subsidy; oligopolistic behaviour; mergers and takeovers; vertical structure; network access pricing; and historical entry barriers. The...

We have posed an interesting and possibly original question: Why are Chinese villages that are so close together geographically so far apart economically? We have developed an answer in terms of factor immobiblities and processes of cumulative causation. Our results are not conclusive: Sharper...

This paper reports the results of a study on the order of sale in art auctions. The final bid relative to the autionner's estimated price is found to decline throughout the course of auction.