Professor Elhauge’s arguments are used to motivate a vision of the priorities for antitrust enforcement that may be seriously misguided if his optimism is unfounded.

This paper examines the importance of competition in the growth and development of firms. We make use of the large-scale natural experiment of the shift from an economic system without competition to a market economy to shed light on the factors that influence innovation by firms and their...

We use data from the airline industry to examine the extent to which the costs of airline operations are affected by rents accruing to workers, and the extent to which these rents depend inter alia upon the degree of competition in the industry. Our empirical results based on a panel of twelve...

This paper examines the importance of competition in innovation and the growth of firms. We make use of the large-scale natural experiment of the shift from an economic system without competition to a market economy to shed light on the factors that influence innovation by firms and their...

This paper examines two ways in which competition works in modern capitalist economies to improve productivity. The first is through incentives: encouraging improvements in technology, organisation and effort on the part of existing establishments and firms. The second is through selection:...

In this book, the latest volume in the annual series published in association with the London Business School and the Institute of Economic Affairs, some of the main issues in UK and EU utility regulation and competition policy are discussed. Topics examined include the new electricity and gas...

Two decades after the end of central planning, we investigate the extent to which the advantages bequeathed by planning in terms of high investment in physical infrastructure and human capital compensated for the costs in allocative inefficiency and weak incentives for innovation. We assemble...

We test the hypothesis that smiles perceived as honest serve as a signal that has evolved to induce cooperation in situations requiring mutual trust. Potential trustees (84 participants from Toulouse, France) made two video clips averaging around 15 seconds for viewing by potential senders...

We show that in family or household firms, credit constraints can make business investment a direct competitor to educational investment. We test this theory on data collected in Cameroon. Households that are not restricted by credit constraints invest more in education when demand for the...