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Owners of intellectual property or mere sponsors of an idea (e.g., authors, security issuers, sponsors of standards) often need to persuade potential buyers or adopters of the worth of their property or idea. To this purpose, they often resort to more or less independent certifiers. This paper...
Persistent link: https://www.econbiz.de/10012468026
This essay reviews the theoretical and empirical literature on quality disclosure and certification. After comparing quality disclosure with other quality assurance mechanisms and describing a brief history of quality disclosure, we address three key theoretical issues: (i) Why don't sellers...
Persistent link: https://www.econbiz.de/10012463006
Empirical studies have found that enhanced foreign competition can encourage or discourage innovation. To address this relationship, I examine a market structure in which a small number of large multi-product oligopolists compete with a large number of small single-product firms in the same...
Persistent link: https://www.econbiz.de/10014436971
oligopoly models similar to that of Pakes and McGuire (1994) …
Persistent link: https://www.econbiz.de/10012468243
from trade under Bertrand and Cournot oligopoly. Firms differentiate their products to mitigate competition, but only if …
Persistent link: https://www.econbiz.de/10012457660
failure to observe homogeneous product Bertrand oligopoly, while homogeneous product Cournot oligopoly has significant …
Persistent link: https://www.econbiz.de/10012457700
We augment the multi-market collusion model of Bernheim and Whinston (1990) by allowing for firm entry into, and exit from, individual markets. We show that this gives rise to a new mechanism by which a cartel can sustain a collusive agreement: Collusion at the extensive margin whereby firms...
Persistent link: https://www.econbiz.de/10012458501
This paper explores the application of oblivious equilibrium to concentrated industries. We define an extended notion of oblivious equilibrium that we call partially oblivious equilibrium (POE) that allows for there to be a set of "dominant firms'', whose firm states are always monitored by...
Persistent link: https://www.econbiz.de/10012459355
determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international trade, decomposing …
Persistent link: https://www.econbiz.de/10012459387
and exit decisions in a dynamic oligopoly model (a la Bajari et al (2007)) and use it to analyse redesign activity in the …
Persistent link: https://www.econbiz.de/10012459665