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Do forward markets enhance competition? : experimental evidence
Le Coq, Chloé (contributor); Orzen, Henrik (contributor) - 2002 - [Elektronische Ressource], Rev. October 1, 2004
Hedging risks is an important rationale for the existence of forward markets. However, Allaz and Vila (1993) show that duopolists can also have a strategic motive to sell forward, irrespective of exogenous uncertainties. Moreover, in their model the possibility of forward trading increases...
Persistent link: https://www.econbiz.de/10001693096
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Endogenous market segmentation and the law of one price
Friberg, Richard (contributor); Martensen, Kaj (contributor) - 2001 - [Elektronische Ressource]
To the surprise of many, price deviations between markets characterized by imperfect competition have often been little affected by lower transport costs. In a Cournot model we show that if firms' decisions to segment markets are endogenous, then lower transport costs are, in many cases,...
Persistent link: https://www.econbiz.de/10001622434
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Bertrand competition with intertemporal demand
Dutta, Prajit K. (contributor);  … - 2002 - [Elektronische Ressource], This revision February 15, 2005
In the text-book model of dynamic Bertrand competition, competing firms meet the same demand function every period …. This is not a satisfactory model of the demand side if consumers can make intertemporal substitution between periods. Each … period then leaves some residual demand to future periods, and consumers who observe price under-cutting may correctly …
Persistent link: https://www.econbiz.de/10001652352
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Information updating and insurance dropout : evidence from dental insurance
Grönqvist, Erik (contributor) - 2004 - [Elektronische Ressource]
Micro data from a dental insurance natural experiment is used to analyze why agents opt out of insurance. The purpose is to relate the dropout decision to new information on risk, acquired by the policy holder and the insurer. The results show that agents tend to leave the insurance when...
Persistent link: https://www.econbiz.de/10002570047
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Learning to be prepared
Kets, Willemien (contributor); Voorneveld, Mark (contributor) - 2005 - [Elektronische Ressource]
Behavioral economics provides several motivations for the common observation that agents appear somewhat unwilling to deviate from recent choices: salience, inertia, the formation of habits, the use of rules of thumb, or the locking in on certain modes of behavior due to learning by doing. This...
Persistent link: https://www.econbiz.de/10002640702
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Skill or luck? : Search frictions and wage differentials
Ellingsen, Tore; Rosén, Åsa - 1994
Persistent link: https://www.econbiz.de/10000881468
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Essays on managerial incentives and product-market competition
Spagnolo, Giancarlo - 1999
Persistent link: https://www.econbiz.de/10000997436
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Networks of relations
Lippert, Steffen (contributor);  … - 2004 - [Elektronische Ressource], This version: June 4, 2010, First version: 2001
We model networks of relational (or implicit)contracts, exploring how sanctioning power and equilibrium conditions change under different network configurations and information transmission technologies. In our model, relations are the links, and the value of the network lies in its ability to...
Persistent link: https://www.econbiz.de/10002450641
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Reciprocal dumping with Bertrand competition
Friberg, Richard (contributor);  … - 2005 - [Elektronische Ressource]
This paper examines if international trade can reduce total welfare in an international oligopoly with differentiated goods. We show that welfare is a U-shaped function in the transport cost as long as trade occurs in equilibrium. With a Cournot duopoly trade can reduce welfare compared to...
Persistent link: https://www.econbiz.de/10002679500
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Strategic use of available capacity in the electricity spot market
Le Coq, Chloé (contributor) - 2002 - [Elektronische Ressource]
The literature on deregulated electricity markets generally assumes available capacities to be given. In contrast, this paper studies a model where firms precommit to capacity levels before competing in a uniform price auction. The analysis sheds light on recent empirical findings that firms use...
Persistent link: https://www.econbiz.de/10001663587