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Infrastructure Investment in Network Industries: The Role of Incentive Regulation and Regulatory Independence

Egert, Balazs - CESifo - 2009

-of-return regulation is generally thought to result in overinvestment, while incentive regulation is believed to entail underinvestment …. Yet, previous empirical work has generally found that the introduction of incentive regulation has not systematically …-of-return regulation because investment decisions (what can be included in the rate base) are usually evaluated in a discretionary manner …

Persistent link: https://www.econbiz.de/10005051558

Price Discrimination Bans on Dominant Firms

Bouckaert, Jan; Degryse, Hans; Dijk, Theon Van - CESifo - 2008

Competition authorities and regulatory agencies sometimes impose pricing restrictions on firms with substantial market power — the “dominant” firms. We analyze the welfare effects of a ban on behaviour-based price discrimination in a two-period setting where the market displays a...

Persistent link: https://www.econbiz.de/10005406170

Wholesale Price Discrimination and Parallel Imports

Ganslandt, Mattias; Maskus, Keith E. - CESifo - 2007

We develop a model of vertical pricing in which an original manufacturer sets wholesale prices in two markets integrated at the distributor level by parallel imports (PI). In this context we show that if competition policy requires uniform wholesale prices across locations it would push retail...

Persistent link: https://www.econbiz.de/10005765782

Virtual Capacity and Competition

Schultz, Christian - CESifo - 2005

In several European merger cases competition authorities have demanded that the merging firm auctions off virtual capacity. The buyer of virtual capacity receives an option on an amount of output at a pre-specified price, typically equal to marginal cost. This output is sold in the market in...

Persistent link: https://www.econbiz.de/10005765994

Beyond the Dogma of the Fixed Book Price Agreement

Ploeg, Frederick van der - CESifo - 2003

After describing the essential features of the book market, a welfare analysis of the fixed book price agreement is given. Allowance is made for the opportunity cost of reading. Theoretically, the agreement pushes up book prices and depresses book sales. However, more titles will be published,...

Persistent link: https://www.econbiz.de/10005094354

Transparency and Tacit Collusion in a Differentiated Market

Schultz, Christian - CESifo - 2002

This paper investigates the effects on tacit collusion of increased market transparency on the consumer side of a market in a differentiated Hotelling duopoly. Increasing market transparency increases the benefits to a firm from underbutting the collusive price. It also decreases the punishment...

Persistent link: https://www.econbiz.de/10005051568

Market Entry Regulation and International Competition

Upmann, Thorsten; Stähler, Frank - CESifo - 2003

As a part of their industry or competition policies governments decide whether to allow for free market entry of firms or to regulate market access. We analyze a model where governments (ab)use these policy decisions for strategic reasons in an international setting. Multiple equilibria of this...

Persistent link: https://www.econbiz.de/10005196323

Buying to Sell: Private Equity Buyouts and Industrial Restructuring

Norbäck, Pehr-Johan; Persson, Lars; Tag, Joacim - CESifo - 2013

We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary ownership leads to strong investment incentives because equilibrium resale prices are determined by buyers incentives to block rivals from obtaining assets. These incentives...

Persistent link: https://www.econbiz.de/10010681223

Debt Sustainability in the Case of External Debt. An Analysis Based on Italy's Treasury Auctions

Cafiso, Gianluca - CESifo - 2014

empirical and considers the case of Italy, one of the world’s largest debt issuer. We study the potential effects on the …

Persistent link: https://www.econbiz.de/10010948904

Kind of Black: The Musicians' Labour Market in Italy

Balestrino, Alessandro - CESifo - 2009

It is estimated that only 5% of musicians in Italy are regularly employed. In an attempt at understanding such a … musicians and discourages talented agents from becoming full-time musicians in all second-best economies. In Italy both …

Persistent link: https://www.econbiz.de/10005013948