critical size, and competition to reach a critical level of intensity. By allowing an economy to produce a greater variety of … must then become larger to break even, which facilitates amortizing the fixed costs of innovation. We demonstrate our …

to pay more for exclusivity, the higher the demand (the lower the cost), that is precisely when competition yields the …

Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … transactions costs exceeding £100 million a year for the first five years. Relative to a counterfactual without competition, there …

product market competition. This leads to more effective weeding out of the existing high-cost firms in the market. In this …

that competition does not guarantee that exchanges choose welfare maximizing trading rules. In some cases, welfare is …

Competition has been modelled in economic literature in a number of ways. What do these different parameterizations of … competition have in common? For instance, it turns out that it is not always the case that a rise in competition reduces price … cost margins, industry wide profits or concentration. All parameterizations of competition, considered here, have two …

and the introduction of competition in many markets. Despite their policy relevance, little work has been done allowing … for a thorough discussion of instruments designed to achieve universal service objectives under competition. We intend to …

the market. Using detailed matched employer-employee data, we analyze how firm takeovers and product market competition … ownership change, in particular when product market competition is weak. Further, increased competition reduces the gender wage …

How does competition affect innovation? We address this question by using a novel approach to measure quality - an … our analysis on recent theoretical frameworks that predict that the effect of competition on innovation depends on firms … important component of innovation - using highly disaggregated product data for a large set of countries. Constructing an …