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Vague Lies: How to Advise Consumers When They Complain
Drugov, Mikhail; Troya Martinez, Marta - C.E.P.R. Discussion Papers - 2012
This paper analyzes the incentives of a seller to provide (un)biased and (im)precise advice about a complex product such as insurance, banking and telecommunication services. Misleading the buyers by biasing the advice upwards increases the revenues but also the expected fine imposed by the...
Persistent link: https://www.econbiz.de/10011083992
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Leveraging Monopoly Power by Degrading Interoperability: Theory and evidence from computer markets
Genakos, Christos D.; Kühn, Kai-Uwe; Van Reenen, John - C.E.P.R. Discussion Papers - 2011
When will a monopolist have incentives to foreclose a complementary market by degrading compatibility/interoperability of his products with those of rivals? We develop a framework where leveraging extracts more rents from the monopoly market by 'restoring' second degree price discrimination. In...
Persistent link: https://www.econbiz.de/10009209834
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The Impact of Maximum Markup Regulation on Prices
Genakos, Christos D.; Koutroumpis, Pantelis; Pagliero, Mario - C.E.P.R. Discussion Papers - 2014
We study the repeal of a regulation that imposed maximum wholesale and retail markups for all but five fresh fruits and vegetables. We compare the prices of products affected by regulation before and after the policy change and use the unregulated products as a control group. We find that...
Persistent link: https://www.econbiz.de/10011084020
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Industrial Organization and the New Industrial Policy
Audretsch, David B - C.E.P.R. Discussion Papers - 1998
The purpose of this paper is to try to shed some new light on the current industrial policy crisis. This paper proposes that the industrial policy debate is shaped by knowledge about the functioning of the underlying industrial structure, which in turn is the Gegenstand of scholars in the field...
Persistent link: https://www.econbiz.de/10005136586
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Aftermarket Power and Basic Market Competition
Cabral, Luís M B - C.E.P.R. Discussion Papers - 2008
I revisit the relation between aftermarket power and basic market competition. I consider an infinite period model with overlapping consumers: in each period, one consumer is born and joins one of the existing installed bases, then aftermarket payoffs are received by sellers and consumers, then...
Persistent link: https://www.econbiz.de/10005497932
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Good rankings are bad - Why reliable rankings can hurt consumers
Bouton, Laurent; Kirchsteiger, Georg - C.E.P.R. Discussion Papers - 2011
Ranking have become increasingly popular on markets for study programs, restaurants, wines, cars, etc. This paper analyses the welfare implication of such rankings. Consumers have to make a choice between two goods of unknown quality with exogenous presence or absence of an informative ranking....
Persistent link: https://www.econbiz.de/10009385758
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Location as a Signal of Quality
Vettas, Nikolaos - C.E.P.R. Discussion Papers - 1999
We examine a horizontal product differentiation duopoly model where firms are also differentiated with respect to the quality of their products. Firms first choose their locations (or product characteristics) and then compete in prices. Under full information, it is shown that, whereas the...
Persistent link: https://www.econbiz.de/10005114216
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Productivity volatility and the misallocation of resources in developing economies
Asker, John; Collard-Wexler, Allan; De Loecker, Jan - C.E.P.R. Discussion Papers - 2011
total factor productivity (TFP) and static measures of capital misallocation within a country. Using data on 5 … time-series volatility of productivity are also characterized by greater cross-sectional dispersion in productivity …. Volatility in TFP explains one quarter to one third of cross-country productivity dispersion. We document a similar relationship …
Persistent link: https://www.econbiz.de/10009150947
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Reallocation and Technology: Evidence from the U.S. Steel Industry
Collard-Wexler, Allan; De Loecker, Jan - C.E.P.R. Discussion Papers - 2013
We measure the impact of a drastic new technology for producing steel, the minimill, on the aggregate productivity of U …'s productivity is linked to this new technology, and operates through two distinct mechanisms. First, minimills displaced the older … in the industry's productivity. Second, increased competition, due to the expansion of minimills, drove a substantial …
Persistent link: https://www.econbiz.de/10011083447
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Market Structure and Borrower Welfare in Microfinance
de Quidt, Jonathan; Fetzer, Thiemo; Ghatak, Maitreesh - C.E.P.R. Discussion Papers - 2012
Motivated by recent controversies surrounding the role of commercial lenders in microfinance, we analyze borrower welfare under different market structures, considering a benevolent non-profit lender, a for-profit monopolist, and a competitive credit market. To understand the magnitude of the...
Persistent link: https://www.econbiz.de/10011083818