Showing 1 - 10 of 17
This paper examines empirically the players’ intrabrand vertical price control, interbrand horizontal pricing coordination, and their learning process to equilibrium in a rare natural experiment of supergame where a well defined simultaneous-move price setting stage game is repeated every...
Persistent link: https://www.econbiz.de/10005130148
We derive a measure of firm speed of price adjustment that is directly inversely related to market power and compare this to the measure derived by Martin (1993). However, both measures are incorrect when firms have price conjectural variations. This is because Taylor expansions of the demand...
Persistent link: https://www.econbiz.de/10005170373
This paper analyzes price formation and dynamics according to the industry structure. It divides manufacturing industries of Mexico into two groups: perfectly and imperfectly competitive. The results show that imperfectly competitive industries predominate. Then this classification is used to...
Persistent link: https://www.econbiz.de/10005328869
Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a connection between aggregate growth and plant dynamics through their effect on productivity: the...
Persistent link: https://www.econbiz.de/10005328883
We present a discrete-time version of an otherwise standard Schumpeterian growth model. Discrete time exhibits two important differences from continuous time. First, the probability of successful innovation cannot be homogeneous of degree one in inputs. A natural R&D analogue to constant returns...
Persistent link: https://www.econbiz.de/10005702694
Despite the great success of the derivatives market, several concerns were expressed regarding the additional volatility stemming from program trading during the expiration of derivatives. This paper examines the impact of the expiration of the KOSPI 200 index derivatives on cash market of Korea...
Persistent link: https://www.econbiz.de/10005702728
Abstract This paper contends that the regime selection probability can provide an “empirically justifiable†alternative to the GL index as a measurement of intra-industry trade. The regime selection probability is an average of sample selection probability that each trade flow data...
Persistent link: https://www.econbiz.de/10005702730
This paper shows that, unlike what has been found in other papers, a hydro reservoir is an effective tool to exercise market power. Its appealing as a tool is enhanced by the fact that there is no need to constrain total hydro production - a practice too easy to detect -; it suffices to distort...
Persistent link: https://www.econbiz.de/10005129764
Abstract: We examine the effects of a government’s sensitivity to its tax revenues, earned from the software industry, on its anti-piracy policies that consists of monitoring and penalizing a commercial software pirate. We consider a strategic entry-deterrence framework where the original...
Persistent link: https://www.econbiz.de/10005130151
This paper estimates a dynamic model of price discrimination and inventory investment under incomplete information. The model is motivated from an empirical analysis of operations of daily observations on inventories, sales, and purchases of over 2,300 individual products by a U.S. steel...
Persistent link: https://www.econbiz.de/10005130185