In this paper, we discuss how fraud liability regimes impact the price structure that is chosen by a monopolistic payment platform, in a setting where merchants can invest in fraud detection technologies

In this paper, we discuss how fraud liability regimes impact the price structure that is chosen by a monopolistic payment platform, in a setting where merchants can invest in fraud detection technologies. We show that liability allocation rules distort the price structure charged by platforms or...

In this paper, we discuss how fraud liability regimes impact the price structure that is chosen by a monopolistic payment platform, in a setting where merchants can invest in fraud detection technologies. We show that liability allocation rules distort the price structure charged by platforms or...

The transition of a sector from a pollutant state to a clean one is studied. A green technology, subject to learning-by-doing, progressively replaces an old one. The notion of abatement cost in this dynamic context is fully characterized. The theoretical, dynamic optimization, perspective is...

In this paper we analyse the current trend towards a higher degree of market integration in Europe and identify those aspects that are particularly relevant for Italy. The Italian involvement in this process appears comparatively modest: contributions from policy makers, practitioners and...

We develop an algorithm that simulates by iterative splitting the hourly equilibrium (price-quantity) of the Italian day-ahead market. The algorithm is employed to study the sensitivity of equilibria to changes in production from renewable units at different locations. We show that, when power...