The objective of this paper is to provide a simple approach endogenizing the welfare reducing or welfare enhancing effect of informative advertising. Using this approach, it is possible to analyse the welfare consequences of a technology shock that reduces unit information costs, and to explain...

It is well known that uncertainty concerning firms’ costs as well as market power of the latter have to be taken into account in order to design and choose environmental policy instruments in an optimal way. As a matter of fact, in most actual regulation settings the policy maker has to face...

It is well known that uncertainty concerning firms' costs as well as market power of the latter have to be taken into account in order to design and choose environmental policy instruments in an optimal way. As a matter of fact, in the most actual environmental regulation settings the policy...