The authors examine the choice of quotas by legal volume-restricting organizations: cartels, commodity agreements, agricultural marketing boards, and prorationing boards. Unlike their illegal counterparts, legal cartels have published regulations and broader enforcement capabilities. However,...

This article presents a model of credible, voluntary, collective agreements in a dynamic game. These agreements are implicit in collections of history-dependent (threat) strategies. I consider the strategies in a game of resource exploitation. Credibility is represented by perfect equilibrium....

With the rapid growth of online social networking for health, health care systems are experiencing an inescapable increase in complexity. This is not necessarily a drawback; self-organising, adaptive networks could become central to future health care delivery. This paper considers whether...

Over the last 20 years, incentives in general and price caps in particular have breathed new life into public utility regulation. Price caps successfully combine incentives for cost reduction with incentives for more efficient pricing. These properties also facilitate opening public utility...

Several incentive mechanisms have been suggested in the literature to induce regulated monopolists to choose welfare-maximiz ing prices and cost levels for their services. Among the desirable pr operties of such mechanisms is that their application should be contr ollable by third parties...

At the beginning of 2000, the U.S. economy was enjoying the longest period of sustained growth and economic prosperity in its history. According to The Internet Upheaval, part of the explanation for this phenomenon is a consequence of how information technologies, in particular the Internet, are...