In response to climate change, many electric utilities introduce pricing schemes to induce their customers to consume less electricity. When a significant portion of the consumer population finds it more costly to economize electricity, one would expect utilities to offer incentives in return...

The impact of public funding is estimated using firm-level Italian data. Results from a bivariate endogenous switching model show that innovative productivity is negatively affected by the innovation subsidy; far from ‘doing better' as a result of government intervention, supported firms...

We use survey data on individual risk attitude and discount rates to test the impact of individual risk profile on the firm innovation activity and firm performance. Empirical evidence from 163 Italian entrepreneurs shows that risk-loving individuals and individuals with smaller than average...

We analyze the effectiveness of antitrust enforcement in repeated oligopoly models in which both fines and detection probabilities depend on the cartel price. Such fines reflect actual guidelines. Inspections based on monitoring of market prices imply endogenous detection probabilities. Without...

This note analyzes the differences between strategic trade and domestic competition policies to regulate a unionized monopoly. In the presence of an industry-wide union, the entry of a domestic competitor does not reduce labor market distortions, while strategic trade policy reduces both labor...

The paper analyzes a Cournot model with two types of firms: Maximizers of profits and maximizers of relative payoffs. It is shown that the equilibrium is located somewhere between the regular Cournot-Nash equilibrium and the competitive Walrasian (or Bertrand-) equilibrium.

The paper proves that monopolistic price discrimination increases output under conditions of constant demand elasticity. The demonstration is simpler than that of Formby, Layson and Smith (1983)

This article considers a model of spatial competition where firms and consumers are located in a semicircular space rather than in the whole circle (Salop's model) or the linear city (Hotelling's model), under the assumptions of both, convex and concave, transportation costs. The paper tries to...

This paper studies the question of entry in the circular city model when the pre-entry market structure involves local monopolies. In contrast with Salop (1979), we show that the unit profit rate of incumbent monopolists is strictly positive and bounded above. The upper bound decreases with the...

In this note we examine four standard multi-unit sealed-bid auctions in the presence of synergy. The structure of the equilibrium bidding strategy under each rule is quite intuitive. Whether the equilibrium involves "bundle-bidding" or "separating-bidding" strategy depends on the presence of the...