This paper proposes a sequential merger formation game to study how trade policy can influence firms' choice between intra-national and cross-border mergers in an international Cournot oligopoly with a cost structure à la Perry and Porter [Perry, M. and Porter, R.H., 1985. Oligopoly and the...

This paper tests whether constitutions directly affect economic outcomes. By introducing citizens' political participation as the driving force connecting institutions to policy outcomes, we empirically show that voter turnout is the channel through which forms of government affect economic...

This paper proposes a sequential merger formation game with cost synergies to study how trade policy can influence firms' choice between domestic and cross-border mergers in an international Cournot oligopoly. We find that the equilibrium market structure depends heavily on: (i) the level of...

Complex planning procedures often amplify the difference in investment time between generation and transmission. In this work we consider a transmission project in Italy and, relying on a recently proposed methodology, we compare costs and benefits of anticipating the planning process before the...

Incentive regulation in electricity distribution is expected to enlarge its scope, from an input-oriented instrument to one that includes additional, output-based incentives. This creates a potential conflict with more traditional concerns for productive efficiency. In the case of Italy,...