The process of innovation usually differs from one industry to another, according to level of expected rents, the uncertainty over the return of investments and competition dynamics. The diversity of industries is largely reflected not only in their rate of innovation and growth, but also in the...

We empirically investigate the political determinants of liberalization and privatization policies in six network industries of 30 OECD countries (1975–2007). We unbundle liberalization and privatization reforms and study their simultaneous determination in a two-equation model. Unlike...

Comparing the literature on hold-up and strategic entry deterrence leads to a puzzling role for sunk or specific investments in affecting investor’s incentive. In one case, non-redeployable investments decrease investor’s ex-post bargaining power. In the other they increase it. When the...

This paper studies an incomplete contract framework in which specific investments affect parties’ outside options. We show that the ‘direction’ of standard hold-up in this new framework strictly depends on the impact generated by investments on ex-post parties’ outside options. This...

We empirically investigate the deterrent and offsetting effects of the introduction of a point-record driving license (PDRL) in Italy. We find that the PDRL resulted in a sharp reduction of seat belt offenses, and in a noticeable decrease of road accidents. However, the reduction in occupant...

The Handbook focuses particularly on how the development of EU law negotiates the tension between market integration, national sovereignty and political democracy. The book begins with chapters examining constitutional issues, while further chapters address the establishment of a single market....

This thoroughly updated and revised edition of a popular and authoritative reference work introduces the reader to the major concepts and leading contributors in the field of law and economics. The Companion features accessible, informative and provocative entries on all the significant issues,...

Over almost a century, Ronald Coase’s works have largely differed in their contents. Under the general umbrella of the “law and economics” field, Coase’s scientific production has indeed covered a large variety of topics and policy issues. However, Coase’s analyses reveal a common...

This paper aims to empirically investigate the impact of a vast array of public policies on wireline broadband penetration through a novel and unique dataset covering 30 OECD countries, over the period 1995–2010. Estimation results show that, while both supply- and demand-side policies have a...