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We design optimal mechanism to collect revenues from nonrenewable resource exploitation, when the resource must be explored and discovered and when there is asymmetric information. The exploration …
We build a simple formal model of governance. Investments and control rights over assets and labor are fully contractible, but final production decisions are ex ante uncontractible, and ex post …
Aapo Aaltio, Riku Buri, Antto Jokelainen, Johan Lundberg
A key challenge in cartel enforcement is identifying collusive agreements. We study two major Nordic procurement cartels that operated in the asphalt paving market. We find evidence that during the …