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Scoring and Cartel Discipline in Procurement Auctions

Nakabayashi, Jun; Ortner, Juan M.; Chassang, Sylvain; … - National Bureau of Economic Research - 2025

Auctioneers suspecting bidder collusion often lack the formal evidence needed for legal recourse. A practical … alternative is to design auctions that hinder collusion. Since Abreu et al. (1986), economic theory has emphasized imperfect … monitoring as a constraint on collusion, but evidence remains scarce on whether: (i) information frictions meaningfully limit …

Persistent link: https://www.econbiz.de/10015398120

Flow Trading

Budish, Eric B.; Cramton, Peter C.; Kyle, Albert S.; … - National Bureau of Economic Research - 2023

We introduce and analyze a new market design for trading financial assets. The design allows traders to directly trade any user-defined linear combination of assets. Orders for such portfolios are expressed as downward-sloping piecewise-linear demand curves with quantities as flows...

Persistent link: https://www.econbiz.de/10014250116

Feedback and Contagion through Distressed Competition

Chen, Hui; Dou, Winston Wei; Guo, Hongye; Ji, Yan - National Bureau of Economic Research - 2023

Firms tend to compete more aggressively in financial distress; the intensified competition in turn reduces profit margins, pushing themselves further into distress and adversely affecting other firms. To study such feedback and contagion effects, we incorporate strategic competition into a...

Persistent link: https://www.econbiz.de/10013537735

Estimating Discrete Games with Many Firms and Many Decisions : An Application to Merger and Product Variety

Fan, Ying; Yang, Chenyu - National Bureau of Economic Research - 2022

This paper presents a new method for estimating discrete games based on bounds of conditional choice probabilities. The method does not require solving the game and is scalable to models with many firms and many discrete decisions. We apply the method to study merger effects on firm entry and...

Persistent link: https://www.econbiz.de/10013334365

Bargaining and Dynamic Competition

Deng, Shanglyu; Jia, Dun; Leccese, Mario; Sweeting, Andrew - National Bureau of Economic Research - 2024

Industries with significant scale economies or learning-by-doing may come to be dominated by a single firm. Economists have studied how likely this is to happen, and whether it is efficient, using models where buyers are price or quantity takers, even though these industries are often also...

Persistent link: https://www.econbiz.de/10014528398

Merger Effects and Antitrust Enforcement : Evidence from US Retail

Bhattacharya, Vivek; Illanes, Gastón; Stillerman, David - National Bureau of Economic Research - 2023

We document the effects of a comprehensive set of US retail mergers. On average, prices increase by 1.5% and quantities decrease by 2.3%, with significant heterogeneity in outcomes across mergers. Price changes correlate with the screens codified in the Horizontal Merger Guidelines. Through a...

Persistent link: https://www.econbiz.de/10014250141

Phoning Home : The Procurement of Telecommunications for Incarcerated Individuals in the United States

Marra, M. R.; Miller, Nathan H.; Sileo, Gretchen - National Bureau of Economic Research - 2024

"commission" they would pay the correctional authority. Using data from public records requests, we estimate a first-score auction …

Persistent link: https://www.econbiz.de/10015171694

Electricity Retail Rate Design in a Decarbonized Economy : An Analysis of Time-Of-Use and Critical Peak Pricing

Schittekatte, Tim; Mallapragada, Dharik; Joskow, Paul L.; … - National Bureau of Economic Research - 2022

Currently, most U.S. electricity consumers pay a constant price per kWh consumed that accounts for most of their bill. Ongoing developments in the power system increase efficiency gains that can be made from exposing consumers to widely varying wholesale spot prices. Pure spot pricing is not...

Persistent link: https://www.econbiz.de/10013435122

The Efficiency of Dynamic Electricity Prices

Hinchberger, Andrew J.; Jacobsen, Mark R.; Knittel, … - National Bureau of Economic Research - 2024

The marginal cost of electricity fluctuates hour-by-hour, yet retail customers typically face flat prices. Using data from all seven US wholesale markets and a new method to evaluate alternative rates set in advance that accounts for equilibrium price effects, we estimate efficiency gains from...

Persistent link: https://www.econbiz.de/10015072936

Energy Transitions in Regulated Markets

Gowrisankaran, Gautam; Langer, Ashley; Reguant, Mar - National Bureau of Economic Research - 2024

an energy transition where utilities face tradeoffs between lowering costs and maintaining coal capacity. We find that … the current regulatory structure retires only 45% as much coal capacity as a cost minimizer. A regulated utility facing a …

Persistent link: https://www.econbiz.de/10014468287