Narrow search
Showing 1 - 10 of 10
Cover Image
Mergers under asymmetric information - is there a lemons problem?
Borek, Thomas; Bühler, Stefan; Schmutzler, Armin - 2004
We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard prediction of the lemons market model-if any, only low-type firms are traded-is likely to be misleading: Merger returns, i.e. the difference between pre- and post-merger profits,...
Persistent link: https://www.econbiz.de/10010315535
Cover Image
Numerical Calculation of an Asymmetric Supply Function Equilibrium with Capacity Constraints
Holmberg, Pär - 2005
Producers submit committed supply functions to a procurement auction, e.g. an electricity auction, before the uncertain demand has been realized. In the Supply Function Equilibrium(SFE), every firm chooses the bid maximizing his expected profit given the bids of the competitors. In case of...
Persistent link: https://www.econbiz.de/10010321539
Cover Image
Some Inequalities related to the analysis of electricity auctions
Hästö, Peter; Holmberg, Pär - 2005
Most balaning markets of electric power are organized as uniform-price auctions. In 2001, the balancing market of …
Persistent link: https://www.econbiz.de/10010321551
Cover Image
Asymmetric Supply Function Equilibrium with Constant Marginal Costs
Holmberg, Pär - 2005
In a real-time electric power auction, the bids of producers consist of committed supply as a function of price. The …. I consider a uniform-price auction with a reservation price, where demand is inelastic and exceed the market capacity …
Persistent link: https://www.econbiz.de/10010321577
Cover Image
Comparing Supply Function Equilibria of Pay-as-Bid and Uniform-Price Auctions
Holmberg, Pär - 2005
exists. Assuming this probability distribution, the pay-as-bid procurement auction is compared to a SFE of a uniform-price … procurement auction, the auction form of most electric power markets. The demand-weighted average price is found to be equal or …
Persistent link: https://www.econbiz.de/10010321609
Cover Image
Unique Supply Function Equilibrium with Capacity Constraints
Holmberg, Pär - 2004
reservation price, and (iiii) capacity constraints that bind with a positive probability, there is a unique symmetric SFE. …
Persistent link: https://www.econbiz.de/10010321615
Cover Image
An analysis of revenues at the Comédie française, 1680-1793
Velde, François R. - 2017
was an actors' partnership and operated within a (contested) oligopoly. Newly available data provide revenues by price …
Persistent link: https://www.econbiz.de/10012030331
Cover Image
Entry, exit, and the determinants of market structure
Dunne, Timothy; Klimek, Shawn D.; Roberts, Mark J.; Xu, … - 2013
. Entry costs faced by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price …
Persistent link: https://www.econbiz.de/10010397677
Cover Image
Borders, Geography, and Oligopoly: Evidence from the Wind Turbine Industry
Cosar, A. Kerem; Grieco, Paul L. E.; Tintelnot, Felix - 2012
Using a micro-level dataset of wind turbine installations in Denmark and Germany, we estimate a structural oligopoly model with cross-border trade and heterogeneous firms. Our approach separately identifies border-related from distance-related variable costs and bounds the fixed cost of...
Persistent link: https://www.econbiz.de/10010500220
Cover Image
Post-cartel pricing during litigation
Harrington, Joseph E. - 2002
Standard methods in the U.S. for calculating antitrust damages in price-fixing cases is shown to create a strategic … incentive for firms to price above the non-collusive price after the cartel has dissolved. This results in an overestimate of … the but for price and an underestimate of the level of damages. The extent of this upward bias in the but for price is …
Persistent link: https://www.econbiz.de/10010293464