The 1998 Competition Act represents a major change in the content and practice of competition policy in the United Kingdom, bringing it into line with European policy as practised under Articles 85 and 86. The paper presents an economic evaluation of the new provisions, and of the draft...

Game harmony is a generic game property that can be used to predict cooperation in both generic and well-known normal form games. It describes how harmonious (non-conflictual) or disharmonious (conflictual) the interests of players are, as embodied in the payoffs. Pure coordination games are...

This paper discusses how a consistent treatment of asset markets may be integrated into standard trade-focussed CGE models. Starting from a core specification of the real economy, calibrated to data for Zambia in the mid-1990s, the paper examines the properties of a hierarchy of models which...

It is often claimed that large buyers wield buyer power.  Existing theories of this effect generally assume upstream monopoly.  Yet the evidence is strongest with upstream competition.  We show that upstream competition can yield buyer power for large buyers by generating supplier-level...

In many rural settings, informal mutual support networks have evolved into semiformal insurance groups, such as funeral societies.  Using detailed panel data for six villages in Ethiopia, we can distinguish two types of contracts, in terms of whether payments are only made at the time of death...

Data from three bargaining games - the Dictator Game, the Ultimatum Game, and the Third-Party Punishment Game - played in 15 societies are presented.  The societies range from US undergraduates to Amazonian, Arctic, and African hunter-gatherers.  Behaviour within the games varies markedly...

Financial liberalisation and innovation (FLIB) in Australia over the 1980s and 1990s provided the institutional backdrop for one of the most rapid increases in household balance sheets and house prices in the world.  An equilibrium correction model of quarterly Australian house prices for...

Hurricanes in the Caribbean and Central America represent a natural experiment to test the intertemporal approach to current account determination. The intertemporal approach allows for the possibility of intertemporal trade, via international borrowing. Previous tests of intertemporal current...