Issue 2

June 2006
Articles: 

RELATIONSHIPS, COMPETITION AND THE STRUCTURE OF INVESTMENT BANKING MARKETS

It is well known that competition can destroy incentives to invest in firm-specific relationships.

THE ADOPTION OF STATE ELECTRICITY REGULATION: THE ROLE OF INTEREST GROUPS

This paper examines the adoption of state electricity regulation around the beginning of the 20th century.

DOES DUAL SOURCING LOWER PROCUREMENT COSTS?

U.S. defense policy encourages the use of dual sourcing to reduce government procurement costs, but recent theoretical work raises doubts about the benefits of this policy.

FUNCTIONAL DEGRADATION AND ASYMMETRIC NETWORK EFFECTS

In markets subject to network effects, firms often remove some functions of their original products and sell a functionally-downgraded version at a lower or zero price.

INCENTIVES FOR CORRUPTIBLE AUDITORS IN THE ABSENCE OF COMMITMENT

In the absence of commitment to auditing, we study the optimal auditing contract when collusion between an agent and an auditor is possible.