Private banks often blame state guarantees to distort competition by giving public banks the advantage of lower funding costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may be able to separate firms by self selection, enter...

We study the relation between people's personal values and environmentally friendly consumption behavior. We first assessed subjects' personal values using the Aspiration Index. Then subjects participated in a laboratory supermarket offering organic and conventional food products and different...

This report provides a comprehensive overview of climate cost modelling, from the perspective of damage costs and mitigation costs respectively. It also provides guidance for policymakers on which framework shall be used to derive climate costs for different policy objectives. For both...

The paper analyses the behaviour of customers of the online music label Magnatune. Customers may pay what they want for music albums, as long as the payment is within a given price range ($5-$18). We study the relationship between artists/labels and customers and use a moral hazard model for our...

We apply the property rights theory of Grossman-Hart-Moore in the music industry and study the optimal allocation of copyright between the artists who create music and the labels who promote and distribute it. Digital technology opens up a role for new intermediaries. We find that entry of...