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This paper is a study of the shape and structure of the distribution of prices at which an identical good is sold in a given market and time period. We find that the typical price distribution is symmetric and leptokurtic, with a standard deviation between 19% and 36%. Only 10% of the variance...
Persistent link: https://www.econbiz.de/10010950974
This paper empirically investigates the possible market power effects of vertical integration proposed in the theoretical literature on vertical foreclosure. It uses a rich data set of cement and ready-mixed concrete plants that spans several decades to perform a detailed case study. There is...
Persistent link: https://www.econbiz.de/10005084700
In this paper, we study the changes in transaction costs from the introduction of the Internet in transactions between firms (i.e., business-to-business (B2B) e-commerce). We begin with a conceptual framework to organize the changes in transaction costs that are likely to result when a...
Persistent link: https://www.econbiz.de/10005050163
theory. We also illustrate how bubbles can emerge in intermediation. …
Persistent link: https://www.econbiz.de/10009325504
. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …
Persistent link: https://www.econbiz.de/10008855525
describing one such theory. …
Persistent link: https://www.econbiz.de/10004976946
This article reviews the state of the international trade literature on multinational firms. This literature addresses three main questions. First, why do some firms operate in more than one country while others do not? Second, what determines in which countries production facilities are...
Persistent link: https://www.econbiz.de/10010969233
particularly attractive locations to offshore? In this paper we address these questions with a theory of international production … hierarchies in which organizations arise endogenously to make efficient use of agents' knowledge. Our theory highlights the role …
Persistent link: https://www.econbiz.de/10005040664
question we propose a theory of the assignment of heterogeneous agents into hierarchical teams, where less skilled agents … globalization. Globalization leads to better matches for all southern workers but only for the best northern workers. As a result …, we show that globalization increases wage inequality in the South but not necessarily in the North. We also study how …
Persistent link: https://www.econbiz.de/10005084616
Without the rule of law, traders who incur trading costs can be held up by counter-parties who are stronger in anarchic bargaining. The favourable terms which the latter extract can overcrowd that side of the market, dissipating the benefits. We establish plausible necessary and sufficient...
Persistent link: https://www.econbiz.de/10005777754