This paper investigates infrastructure investment in markets where regulation is subject to varying degrees of manipulation by elected politicians. Based on a model of price regulation in a market with increasing demand and long-term returns on investment we construct a multi-period game between...

We develop a tractable theory to study the impact of biased media on election outcomes, voter turnout and welfare. News released by media allows voters to infer the relative appeal of the two candidates, and the closeness of elections. In large elections, the former determines the election...

Competition involves two dimensions, rivalry for resources and social-status ranking. In our experiment we exclude the first dimension and investigate gender differences in the preference for status ranking. Participants perform a task under non-rivalry incentives. Before doing so, individuals...

European countries and Japan are contemplating more competition in passenger rail service. In the Netherlands, the Ministry of Transport was assigned responsibility for making a recommendation to Parliament for choosing between competition for the rails and competition on the rails. The Ministry...

We use experiments to study the efficiency effects for a market as a whole of adding the possibility of forward contracting to a pre-existing spot market. We deal separately with the cases where spot market competition is in quantities and where it is in supply functions. In both cases we...