Climate cooperation increasingly looks like individuals reaching out beyond traditional interactions to expand new networks, work with others to spot patterns, and take initiative to learn new complex systems; adapt these shared insights into new solutions; develop empathy, patience, and...

This article summarizes and draws connections among diverse streams of theoretical and empirical research on the economics of privacy. We focus on the economic value and consequences of protecting and disclosing personal information, and on consumers' understanding and decisions regarding the...

The Bali Roadmap marks a milestone in the process of international consensus building, setting forth a multilateral legal framework to address climate change. Delegates at the UN Climate Change Conference in Bali (Dec. 3-15 2007) launched a two-year process with a comprehensive agenda and 2009...

We propose a micro-founded equilibrium model to examine the interactions between the physical and the derivative markets of a commodity. This model provides a unifying framework for the hedging pressure and storage theories. The model shows a variety of behaviors at equilibrium that can be used...

Based on a unique dataset of legislative changes in industrial countries, we identify events that strengthen the competition control of mergers and acquisitions, analyze their impact on banks and non-financial firms and explain the different reactions observed with specific regulatory...

We study the effects of competition on loan rates and portfolio-at-risk in microcredit markets using a new database from rating agencies, covering 379 microbanks located in 67 countries between 2002 and 2008. Our study reveals different competitive effects in nonprofit and for-profit microbanks....

There is a long-standing debate about the special nature of banks. Based on a unique dataset of legislative changes in industrial countries, we identify events that strengthen competition policy, analyze their impact on banks and non-financial firms and explain the reactions observed with...

The term “cartel” refers to the worst kind of such communication, as it deals with the creation of agreements to fix prices of goods and services at an artificially high level. Cartels are universally established as being the most pernicious form of agreement for competition regulators. The...

Increasing water scarcity has attracted more businesses and their high-powered market tools to a sector that has been dominated historically by organizations operating under low-powered incentives. This paper compares business and bureaucratic institutions through three interfaces. The first...

Currently, the Internet is characterized by excess capacity, which benefits consumers and producers of Internet-based services alike. High quality and declining prices of interconnection are the basis for many e-commerce, software and equipment businesses. However, tough competition in the...