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The Smart Grid, Entry, and Imperfect Competition in Electricity Markets

Allcott, Hunt - National Bureau of Economic Research (NBER) - 2012

Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. The Smart Grid is a set of emerging technologies that, among other effects, will facilitate "real-time pricing" for electricity and increase price...

Persistent link: https://www.econbiz.de/10011271447

An Economic Analysis of Platform Sharing

Morita, Hodaka; Ghosh, Arghya - National Bureau of Economic Research (NBER) - 2007

We explore the managerial implications and economic consequences of platform sharing under models of horizontal and vertical product differentiation. By using a common platform across different products, firms can save on fixed costs for platform development. At the same time, platform sharing...

Persistent link: https://www.econbiz.de/10005084694

Asymmetric Learning in Repeated Contracting: An Empirical Study

Cohen, Alma - National Bureau of Economic Research (NBER) - 2008

This paper studies a unique panel dataset of transactions with repeat customers of an insurer operating in a market in which insurers are not required by law or contract to share information about their customers' records. I use this dataset to test the asymmetric learning hypothesis that...

Persistent link: https://www.econbiz.de/10005575389

Evaluating Welfare with Nonlinear Prices

Reiss, Peter C.; White, Matthew W. - National Bureau of Economic Research (NBER) - 2006

This paper examines how to evaluate consumer welfare when consumers face nonlinear prices. This problem arises in many settings, such as devising optimal pricing strategies for firms, assessing how price discrimination affects consumers, and evaluating the efficiency costs of many transfer...

Persistent link: https://www.econbiz.de/10005775209

Output Price and Markup Dispersion in Micro Data: The Roles of Producer Heterogeneity and Noise

Roberts, Mark J.; Supina, Dylan - National Bureau of Economic Research (NBER) - 1997

This paper provides empirical evidence on the extent of producer heterogeneity in the output market by analyzing output price and price-marginal cost markups at the plant level for thirteen homogenous manufactured goods. It relies on micro data from the U.S. Census of Manufactures over the...

Persistent link: https://www.econbiz.de/10005777777

The Dominance of Retail Stores

Lazear, Edward; Ziegler, Alexandre - National Bureau of Economic Research (NBER) - 2003

potential consumer must wait until the auction is held to buy the good. Consequently, auctions result in false trading', where … buyers sometimes pass up other valuable opportunities while waiting for the auction to occur or instead make undesired …

Persistent link: https://www.econbiz.de/10005830626

The Bidder Exclusion Effect

Coey, Dominic; Larsen, Bradley; Sweeney, Kane - National Bureau of Economic Research (NBER) - 2014

We introduce a simple and robust approach to answering two key questions in empirical auction analysis: discriminating … between models of entry and quantifying the revenue gains from improving auction design. The approach builds on Bulow and … and auction formats without requiring instruments or estimation of a complex structural model. We demonstrate the approach …

Persistent link: https://www.econbiz.de/10010951042

The Economics of Internet Markets

Levin, Jonathan - National Bureau of Economic Research (NBER) - 2011

The internet has facilitated the creation of new markets characterized by large scale, increased customization, rapid innovation and the collection and use of detailed consumer and market data. I describe these changes and some of the economic theory that has been useful for thinking about...

Persistent link: https://www.econbiz.de/10008855223

Imperfect Competition in Selection Markets

Mahoney, Neale; Weyl, E. Glen - National Bureau of Economic Research (NBER) - 2014

Standard policies to correct market power and selection can be misguided when these two forces co-exist. Using a calibrated model of employer-sponsored health insurance, we show that the risk adjustment commonly used by employers to offset adverse selection often reduces the amount of...

Persistent link: https://www.econbiz.de/10010890106

Sunk Costs and Real Options in Antitrust

Pindyck, Robert S. - National Bureau of Economic Research (NBER) - 2005

Sunk costs play a central role in antitrust economics, but are often misunderstood and mismeasured. I will try to clarify some of the conceptual and empirical issues related to sunk costs, and explain their implications for antitrust analysis. I will be particularly concerned with the role of...

Persistent link: https://www.econbiz.de/10005011922