Deterring the formation or continuation of cartels is a major objective of antitrust policy. We develop a dynamic framework to characterize the compensation and deterrence properties of fines, based on the fact that cartel stability depends on the ability to prevent deviation, which itself...

Corrigendum to “Are cartel fines optimal? Theory and evidence from the European Union.” The paper “Are cartel fines optimal? Theory and evidence from the European Union” can be found at 'http://ssrn.com/abstract=2342180' http://ssrn.com/abstract=2342180

This document seeks to lay the groundwork for a government policy on free and open source software. We briefly characterize the extent of the open source software phenomenon. We analyse its pros and cons for the government, in its role as both an engine of economic development and a large user...

In this report, we first develop a simplified example that illustrates the importance of considering the option ``waiting to invest'' when valuing an investment. This is followed by a short description of other options that could be embedded in an investment opportunity. In order to stress the...

We study the interactions between the capital structure and the technological flexibility choices of firms in a duopoly. When there are bankruptcy costs, a leveraged firm may modify its strategic choices in order to decrease its probability of bankruptcy. We show that, when the capacity level of...

Many network industries (telecommunications, electricity, natural gas, postal services, water and sewage services, etc.) are confronted with significant logistic and behavioral problems in their transition towards competition. In this article, I first recall some general principes and...

The present paper deals with some legal issues surrounding environmental protection, namely those issues concerning the liability of the different firms and individuals directly or indirectly involved in the generation of environment damaging accidents. We consider in particular the potential...

Our objective in this paper is to develop a methodology to infer from the behaviour and choices of broadcasters the competitive value they attach to the use of music, more precisely sound recordings, and to derive from such an inferred value the proper competitive copyright payments to be made...

We show that whether observing technological choices made by competitors is possible or not has significant impacts on the equilibrium technological configurations. Depending upon the industry characteristics, the strategic value of technological flexibility may be either positive or negative,...