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Collusion at the Extensive Margin
Byford, Martin C.; Gans, Joshua S. - National Bureau of Economic Research (NBER) - 2014
We augment the multi-market collusion model of Bernheim and Whinston (1990) by allowing for firm entry into, and exit … agreement: Collusion at the extensive margin whereby firms collude by avoiding entry into each other's markets or territories …. We characterise parameter values that sustain this type of collusion and identify the assumptions where this collusion is …
Persistent link: https://www.econbiz.de/10011240566
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Text-Based Network Industries and Endogenous Product Differentiation
Phillips, Gordon M.; Hoberg, Gerard - National Bureau of Economic Research (NBER) - 2010
We study how firms differ from their competitors using new time-varying measures of product differentiation based on text-based analysis of product descriptions from 50,673 firm 10-K statements filed yearly with the Securities and Exchange Commission. This year-by-year set of product...
Persistent link: https://www.econbiz.de/10008622318
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Predation and Its Rate of Return: The Sugar Industry, 1887-1914
Genesove, David; Mullin, Wallace P. - National Bureau of Economic Research (NBER) - 1997
We study entry into the American sugar refining industry before World War I. We show that the price wars following two major entry episodes were predatory. Our proof is twofold: by direct comparison of price to marginal cost, and by construction of predicted competitive price cost margins that...
Persistent link: https://www.econbiz.de/10005829079
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Antitrust
Kaplow, Louis; Shapiro, Carl - National Bureau of Economic Research (NBER) - 2007
policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …
Persistent link: https://www.econbiz.de/10005049968
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Rules, Communication and Collusion: Narrative Evidence from the Sugar Institute Case
Genesove, David; Mullin, Wallace P. - National Bureau of Economic Research (NBER) - 2001
highlight the deficiencies in the current formal theory of collusion. The Sugar Institute did not fix prices or output. Prices …
Persistent link: https://www.econbiz.de/10005575278
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Ohio School Milk Markets: An Analysis of Bidding
Porter, Robert H.; Zona, J. Douglas - National Bureau of Economic Research (NBER) - 1997
behavior of these firms is consistent with collusion. The estimated average effect of collusion on market prices is about six …
Persistent link: https://www.econbiz.de/10005579940
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The Strategic Response by Pharmaceutical Firms to the Medicaid Most-Favored-Customer Rules
Morton, Fiona Scott - National Bureau of Economic Research (NBER) - 1996
In 1990 the Federal Government included a Most Favored Customer (MFC) clause in the contract (OBRA 90) which would govern the prices paid to firms for pharmaceutical products supplied to Medicaid recipients. The firms had to give Medicaid their best (lowest) price in some cases, a percentage...
Persistent link: https://www.econbiz.de/10005580016
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A Model of Dynamic Limit Pricing with an Application to the Airline Industry
Gedge, Christopher; Roberts, James W.; Sweeting, Andrew - National Bureau of Economic Research (NBER) - 2014
The one-shot nature of most theoretical models of strategic investment, especially those based on asymmetric information, limits our ability to test whether they can fit the data. We develop a dynamic version of the classic Milgrom and Roberts (1982) model of limit pricing, where a monopolist...
Persistent link: https://www.econbiz.de/10010796729
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Search Frictions and Market Power in Negotiated Price Markets
Allen, Jason; Clark, Robert; Houde, Jean-François - National Bureau of Economic Research (NBER) - 2014
This paper develops and estimates a search and bargaining model designed to measure the welfare loss associated with frictions in oligopoly markets with negotiated prices. We use the model to quantify the consumer surplus loss induced by the presence of search frictions in the Canadian mortgage...
Persistent link: https://www.econbiz.de/10010821788
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Production Targets
Caruana, Guillermo; Einav, Liran - National Bureau of Economic Research (NBER) - 2006
We present a dynamic quantity setting game, where players may continuously adjust their quantity targets, but incur convex adjustment costs when they do so. These costs allow players to use quantity targets as a partial commitment device. We show that the equilibrium path of such a game is...
Persistent link: https://www.econbiz.de/10005036819