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On efficiency, concentration and welfare
BOCCARD, Nicolas - Center for Operations Research and Econometrics (CORE), … - 2009
The welfare impact of a merger involves the market power offense and the efficiency defense. Salant et al. (1983) show … that mergers among symmetric firms are unprofitable except for monopolization. We characterize the limit to this merger … for a profitable merger to increase welfare but leave open whether it exists. We characterize the degree of cost asymmetry …
Persistent link: https://www.econbiz.de/10008494368
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Market structure, scale economies and industry performance
AMIR, Rabah - Center for Operations Research and Econometrics (CORE), … - 2003
We provide an extensive and general investigation of the effecst on industry performance - profits, social welfare and price-cost margins - of exogenously changing the number of firms in Cournot markets. This includes an in-depth exploration of the well-known trade-off between competition and...
Persistent link: https://www.econbiz.de/10005008299
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Entry accommodation under multiple commitment strategies: judo economics revisited
BOCCARD, Nicolas; WAUTHY, Xavier - Center for Operations Research and Econometrics (CORE), … - 2009
We consider a stage-game where the entrant may simultaneously commit to its product's quality and the level of its production capacity before price competition takes place. We show that capacity limitation is more effective than quality reduction as a way to induce entry accommodation: the...
Persistent link: https://www.econbiz.de/10008550174
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Regulating quality by regulating quantity : a case against minimum quality standards
BOCCARD, Nicolas; WAUTHY, Xavier - Center for Operations Research and Econometrics (CORE), … - 2009
We show in a simple model of entry with sunk cost, that a regulator prefers limiting the output, or capacity, of the incumbent firm rather than imposing a "Minimum Quality Standard" in order to help the entrant to provide high quality. As a by-product, our analysis makes a contribution to the...
Persistent link: https://www.econbiz.de/10008550220
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Alternative Models of Restructured Electricity Systems. Part 1: No Market Power.
Boucher, J.; Smeers, Y. - Center for Operations Research and Econometrics (CORE), … - 1999
Different equilibrium concepts have been proposed by various authors (Schweppe et al, Hogan, Chao and Peck, Wu et al) to analyse competitive electricity systems. We establish correspondences between these different models though a single framework and provide additional interpretations of these...
Persistent link: https://www.econbiz.de/10005634123
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On the Effects of Entry in Cournot Markets.
Amir, R.; Lambson, V.E. - Center for Operations Research and Econometrics (CORE), … - 1999
In the framework of symmetric Cournot oligopoly, this paper provides two minimal sets of assumptions on the demand and cost functions that imply respectively that, as the number of firms increases, the minimal and maximal equilibria lead to (i) decreasing industry price and increasing or...
Persistent link: https://www.econbiz.de/10005779485
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A real options model for electricity capacity expansion
GAHUNGU, Joachim; SMEERS, Yves - Center for Operations Research and Econometrics (CORE), … - 2011
This paper proposes a real option capacity expansion model for power generation with several technologies that differ in operation and investment costs. The economy is assumed perfectly competitive and the instantaneous payoff accruing from the generation system is the instantaneous welfare...
Persistent link: https://www.econbiz.de/10010927715
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Variational Inequality Models of Restructured Electricity Systems.
Daxhelet, O.; Smeers, Y. - Center for Operations Research and Econometrics (CORE), … - 1999
The restructuring of electric systems can follow different paradigms that have different impacts. The objective of this paper is to show that Variational Inequalities Problems provide a natural tool for modeling electricity restructuring in a wide range of relevant situations.
Persistent link: https://www.econbiz.de/10005779461
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Market design in wholesale electricity markets
SANIN, Maria Eugenia - Center for Operations Research and Econometrics (CORE), … - 2006
As European countries move towards complete unbundling in electricity markets, some issues regarding market design are still under discussion. In particular, which market configuration would give the right incentives to promote efficiency and reduce final prices. In this paper we analyze a...
Persistent link: https://www.econbiz.de/10005008193
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Optimal enforcement of competition policy : the commitments procedure under uncertainty
GAUTIER, Axel; PETIT, Nicolas - Center for Operations Research and Econometrics (CORE), … - 2014
Since the introduction of a formal commitments procedure in EU an- titrust policy (Article 9 of Council Regulation 1/2003), the European Commission has extensively settled cases of alleged anticompetitive practices. In this paper, we use a formal model of law enforcement (Be- bchuk, 1984; Shavell,...
Persistent link: https://www.econbiz.de/10011246329