Asymmetric information without common priors: an indirect evolutionary analysis of quantity competition

The common prior assumption justifies private beliefs as posterior probabilities when updating a common prior based on individual information. We dispose of the common prior assumption for a homogeneous oligopoly market with uncertain costs and firms entertaining arbitrary priors about other firms' cost-type. We show that true prior beliefs can not be evolutionarily stable when truly expected profit measures (reproductive) success.

Ethnic Competition and the logic of party system transformation

This article adapts and expands a recent model of ethnic competition by exploring its implications over a long period spanning crucial stages in the modernisation of the political system. It illustrates the model by reference to developments in Northern Ireland since its modern party system was launched in the 1880s. This offers an exceptionally clear example of the interaction of central elements of the model: the initial bedding down of a system of bipartisan ethnic competition, with two parties having a remarkable capacity to resist ethnic outbidding; the fragmentation of this system following the introduction of a set of major institutional forms that facilitated ethnic outbidding; and the continuing resilience of ethnically based parties in warding off challenges from groups seeking to prioritise other political dimensions. The model's implications are tested against a comprehensive collection of ecological and survey data.

The Polish Competition Authority Submits a Draft Amendment to the Polish Competition Act: Revolution or Fine-Tuning?

This piece highlights and offers a brief analysis of the most important of the
proposed changes to Polish competition law. The draft proposal envisages introduction of, inter alia, financial penalties for individuals, two-stage merger review process, important changes to the leniency program (including introduction of leniency plus), as well as such new tools as remedies and settlements.

The Polish Competition Authority Publishes its Annual Report for 2012

In May 2013 the President of the Office of Competition and Consumer Protection (UOKiK), the Polish Competition Authority, published its Annual Report for 2012. This piece provides an overview of the reported activities within the competition law & policy domain, and comments on some of them.

University Competition, Grading Standards, and Grade Inflation

We develop a model of strategic grade determination by universities distinguished by their distributions of student academic abilities. Universities choose grading standards to maximize the total wages of graduates, taking into account how the grading standards affect firms' productivity assessment and job placement. We identify conditions under which better universities set lower grading standards, exploiting the fact that firms cannot distinguish between good and badA''s. In contrast, a social planner sets stricter standards at better universities. We show how increases in skilled jobs drive grade inflation, and determine when grading standards fall faster at better schools. (JEL I21)