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Equilibrium Vertical Foreclosure in the Repeated Game
Normann, Hans-Theo - EconWPA - 2004
are that foreclosure is in fact a subgame perfect Nash equilibrium of the repeated game, and it may facilitate collusion …
Persistent link: https://www.econbiz.de/10005076896
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Insisting on a Non-Negative Price: Oligopoly, Uncertainty, Welfare, and Multiple Equilibria
Lagerlof, Johan - EconWPA - 2003
I study Cournot competition under incomplete information about demand while assuming that market price must be non … of the paper are relevant also for price competition and for uncertainty about, e.g., cost or the number of firms, and …
Persistent link: https://www.econbiz.de/10005125040
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Scale Economies and Synergies in Horizontal Merger Analysis
Farrell, Joseph; Shapiro, Carl - EconWPA - 2001
oligopoly theory regarding cost savings, competition, and consumer welfare. …
Persistent link: https://www.econbiz.de/10005134425
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Merger Simulation with Brand-Level Margin: Extending PCAIDS with Nests
Epstein, Roy J.; Rubinfeld, Dniel L. - EconWPA - 2004
We present a method to calibrate empirically the demand parameters in a merger simulation model by using brand-level profit margin data. While the approach can be generalized, we develop these ideas within a particular framework the PCAIDS (proportionality- calibrated AIDS) model. We show that...
Persistent link: https://www.econbiz.de/10005134429
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Insisting on a Non-Negative Price: Oligopoly, Uncertainty, Welfare, and Multiple Equilibria
Lagerlof, Johan - EconWPA - 2003
I study Cournot competition under incomplete information about demand while assuming that market price must be non … of the paper are relevant also for price competition and for uncertainty about, e.g., cost or the number of firms, and …
Persistent link: https://www.econbiz.de/10005135132
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Collusion with Capacity Constraints over the Business Cycle
Fabra, Natalia - EconWPA - 2003
This paper investigates the effect of capacity constraints on the sustainability of collusion in markets subject to …
Persistent link: https://www.econbiz.de/10005125033
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Through Trial & Error to Collusion
Huck, Steffen; Normann, Hans-Theo; Oechssler, Joerg - EconWPA - 1998
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that this process converges...
Persistent link: https://www.econbiz.de/10005062333
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Status Quo Effects in Bargaining: An Empirical Analysis of OPEC
Hyndman, Kyle - EconWPA - 2005
We conduct an event analysis on OPEC quota announcements to determine their impact on the stock returns in the oil industry. We find that announcements to reduce the quota are followed by positive excess returns over pre-announcement levels, announcements of no action are met with negative...
Persistent link: https://www.econbiz.de/10005412889
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Price Wars and Collusion in the Spanish Electricity Market
Fabra, Natalia; Toro, Juan - EconWPA - 2002
\We analyze the time-series of prices in the Spanish electricity market by means of a time varying-transition-probability Markov switching model. Accounting for changes in demand and cost conditions (which reflect changes in input costs, capacity availability and hydro power), we show that the...
Persistent link: https://www.econbiz.de/10005412904
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Advantageous or Disadvantageous Semi-collusion Licensing in a Vertically Separated Industry
Mukherjee, Arijit - EconWPA - 2002
This paper compares profits and consumer surplus under non-cooperation and collusion in the product market when the …-cooperation or product market collusion depends on the R\&D productivity. If the market size is sufficiently small then firms are … always better off under product market collusion. If the market size is moderate (relatively large) then the firms are better …
Persistent link: https://www.econbiz.de/10005412980