In 1989, the United Kingdom Monopolies and Mergers Commission (MMC) recommended measures that eventually led brewers to divest themselves of 14000 public houses. The MMC claimed that their recommendations would lower retail prices and increase consumer choice. Since that time, however, retail...

This note illustrates the fact that the number of active firms in free entry equilibrium may be largely indeterminate and different levels of positive profits may in many cases be sustained. This is shown to be true, in spite of market contestability, either under Cournot competition or under...

In real markets, price adjustment and the matching of buyers and sellers involve considerable exchange of information. Previous experience is also important in partner selection and in the decision to accept a transaction. The dynamic processes involved can be described in terms taken from...

First and second price collusive auction mechanisms from the literature on bid rigging within the independent private values model are extended to be applicable within the general symmetric model where signals are affiliated. A mechanism which allow information sharing is also proposed. The...

We summarize a number of regularities that arise in the empirical literature on contractual relationships between manufacturers and their exclusive resellers. We do this by using studies of traditional and business-format-franchise relationships, as well as studies of sales- force-integration...

The paper examines some issues linked to the integration of market power in general equilibrium. The first part reviews the different existing approaches: subjective and objective, in terms of quantities and in terms of prices. The second part presents a semi-competitive model, based on a sector...

This note exhibits sufficient conditions concerning the skills of old workers ruling out overaccumulation stationnary equilibria in an OLG model with productive capital.

We modify the altruistic model by assuming that income, instead of the heir's utility, enters the altruist's utility function. We name this formulation "myopic" because, unlike in Barro's (1974) model, the altruist does not need to foresee into the indenite future to make his decisions. We...

This paper examines the effect of moral hazard on public health insurance contract. It models primary prevention in a two period model with classification risk. Agent’s preferences appear to play an important role in the optimal determination of preventive effort and insurance between...

We construct a R&D based endogenous growth model within an overlapping generations framework. We study the properties of the long run growth rate. We define endogenous growth as an equilibrium in which the long run growth rate is always stricly larger than zero. Then, we show that endogenous...