The recent literature has emphasized that government intervention when consumers have quasi-hyperbolic preferences ('bias for the present') over consumption is not welfare-enhancing. This paper introduces a market imperfection (which takes the form of a negative externality) and shows that...

The South Asia region is home to the largest pool of individuals living under the poverty line, coupled with a fast-growing population. The importance of access to basic infrastructure services on welfare and the quality of life is clear. Yet the South Asia region?s rates of access to...

Spatial and environmental issues related to mobility are exacerbated in urban areas. Road congestion, rivalry of use for parking spaces and air pollution are major issues regularly at the heart of local transportation policies. They have been dealt with through various approaches. Mass transit...

This paper presents a comparative analysis of alternative competition policy and regulatory regimes that are proposed to safeguard competition in the digital economy. We review the causes of concentration in several digital markets, and differentiate the objectives of promoting competition in,...

While stock market expectations are among the most important primitives of portfolio choice models, their measurement has proved challenging for some respondents. We argue that the magnitude of measurement error in subjective expectations can be used as an indicator of the degree to which...

We use hand-collected data from four German crowdinvesting portals to analyze what determines individual investment decisions in crowdinvesting. In contrast with the crowdfunding campaigns on Kickstarter, where the typical pattern of project support is U-shaped, we find crowdinvesting dynamics...