Allocating permits based on individual historical emissions (‘grandfathering’), or industry benchmark data, is an important design aspect of an emissions trading scheme. Free permit allocation has proven complex and inefficient (particularly in the European Union) with distribution...

We study the impact of crossholdings on the efficiency of the standard auction formats. The ascending auction is not equivalent to the second-price auction. In a class of examples, the ascending auction is the only efficient standard auction format.

We analyze the privatization of highway firms, focusing both on the sale of the shares of these firms and the tenders organized by the highway firms for the maintenance of the highways network. If a public works firm buys shares of a highway firm, tenders become inefficient and the revenue of...

We systematically overview the literature in keyword search and propose several promising research directions. The paper is organized by each agent in the search process; searchers, advertisers and the search engine and reviews the key research issues for each. For each group, we outline the...

In this article we present various issues that underline public procurement, critically evaluate some of the procurement practices and discuss the role of the regulator.1 The objective of the study is to bring forth various issues that dominate public procurement, identify the challenges and...