We study price formation in the standard model of consumer search for differentiated products but allow for search cost … important but often neglected aspect of the price mechanism. Recognizing the role the equilibrium price plays in consumers …

In this paper we identify the effects of ageing on the relative price of nontradeables versus tradeables. We consider …

We offer a theory of how the combination of budget constraints and insurance drives up prices. A natural context for … our theory is the health care market, where drug prices can be very high. Our model predicts that monopoly prices for … orphan drugs are inversely related to the prevalence up until a maximum price. This is supported by empirical evidence in the …

the damage ratio is gradually resolved over time, this only slows down the price rise. Third, if CCS is allowed for, the … optimal CO2 price will rise before it declines but this decline does not occur until more than two centuries ahead. Fourth … CO2 prices upfront is an artefact of failing to separate out renewable energy subsidies from the carbon price. Finally …

higher, but when the tipping point occurs, the price jumps downward. With only a temperature cap the carbon price rises at … the risk-adjusted interest rate. Adding damages leads to a higher carbon price that grows more slowly. But as temperature … and cumulative emissions get closer to their caps, the carbon price is ramped up ever more. Policy makers should commit to …