This article studies the design of optimal mechanisms to regulate entry in natural oligopoly markets, assuming the regulator is unable to control the behavior of firms once they are in the market. We adapt the Clarke-Groves mechanism, characterize the optimal mechanism that maximizes the...

We analyze the problem of selling shares of a divisible good to a large number of buyers when demand is uncertain. We characterize equilibria of two popular mechanisms, a fixed price mechanism and a uniform price auction, and compare the revenues. While in the auction truthful bidding is a...

Tackling the crisis, readjusting the economic model: Rising energy prices, historically high infl ation rates and ongoing supply chain bottlenecks are challenging Germany’s long-standing industrial base. On top of that, entrepreneurs and the state alike are faced with new geopolitical tensions...

Employment relationships are embedded in a network of social norms that provide an implicit framework for desired behaviour, especially if contractual solutions are weak. The COVID-19 pandemic has brought about major changes that have led to situations, such as the scope of short-time work or...

This paper studies public goods provision in an experiment in which contributors repeatedly interact with rent-extracting administrators. Our main result is that the presence of an administrator reduces contributions but only because rent extraction lowers the MPCR. Analysing the dynamic...

Infolge des russischen Angriffskriegs auf die Ukraine kam es zu einem starken Anstieg der Energiepreise. Um die Folgen dieser Energiekrise für die Haushalte in Deutschland in der ganzen Breite zu erfassen, führt der Sachverständigenrat für Verbraucherfragen (SVRV) mit dem...