heterogeneous agents. The agents have private information about their productivity, preferences, or money holdings. Matching is … in money. In equilibrium, homogeneous buyers hold different amounts of money leading to price dispersion. We find the … closed-form solution for the distribution of money holdings. Entry of sellers is suboptimal except at the Friedman rule …

Meltzer (2001b) argues that the current trend for downgrading the role of money in standard macro models is erroneous … introducing an explicit role of money in these models. …

stems from more intensive competition, manifested through external economies of scale and longer production runs. We finish …

This paper examines whether or not hospital competition in a market with fixed reimbursement prices can prompt …. This paper assesses whether this aim has been achieved and competition led to improvements in quality. For our estimation … improved) for patients living in more competitive markets after the introduction of hospital competition in January 2006. Our …

integration emerges whether there is Cournot or Bertrand competition in the input market. The degree of integration in the …

This paper centres around the question of ownership of firms and managerial competition and how these affect managers … affected by both ownership and competition since both ownership structure and competition provide bargaining chips to employees … fierce market competition and no lock-in the allocation of ownership does not play a role (as one might expect), provided …

competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In … particular, this paper shows that when matching is assortative and sellers’ investments precede market competition then … coordination failures. Different types of efficiency arise when buyers undertake investment before market competition. These …

This paper presents a model of competition between operators on urban local bus routes in which passengers always board … predictions are consistent with observed features of the on-the-road competition on urban local bus routes. On express coach … competition in practice. …