This paper seeks to bridge the gap between economists focused on designing competitive market mechanisms and engineers … contingent on real time prices. It then examines the assumptions required for a competitive wholesale and retail market to … whether market prices will provide incentives for investments consistent with these reserve requirements. …

highly liberalized Chilean education market, we develop a model in which schools are heterogeneous in an underlying …

incumbent firms, due to strategic product market effects. This will increase the price for basic innovations, thereby triggering … more such innovations by entrepreneurs. Consequently, a venture capital market implies that more innovations are created … substantially more efficient, otherwise incumbents will preempt venture capitalists entering the market by acquiring basic …

In this paper we analyse the role of asymmetric information between firms and consumers about market conditions. In … observable. When customers are unable to observe all relevant prices in the market, however, they will attempt to infer the level …, equilibrium prices and price variability are strictly higher in a market with private information about costs. We show how firms …

This paper analyses a situation where market designers create new trading platforms and traders learn to select among … them. We ask whether 'Walrasian' platforms, leading to market-clearing trading outcomes, will dominate the market in the … long run. If several market designers are competing, we find that traders will learn to select non-market clearing …

demand for text messaging in the Norwegian market and find that the cross-price effect of voice depends on the network size …

In this paper, we examine how cross-market price restrictions impact strategic entry and pricing decisions. A … those for urban customers. We develop a multi-market model which features an oligopolistic urban market, entry auctions for …

show that consumer implicit interest rates are close to capital market rates, and considerably lower than the previous …