Despite the mixed empirical evidence, many economists still hold to the view that Internet will promote competition … different view. We analyze the market for a homogeneous good where some consumers are fully informed while others are not … each of these equilibria. For example, a reduction in search cost may raise equilibrium prices when consumers' search …

This paper studies the incentives to merge in a Bertrand competition model where firms sell differentiated …

We study mergers in a market where <I>N</I> firms sell a homogeneous good and consumers search sequentially to discover … environment, the search behavior of consumers. Endogenous changes in consumer search may strengthen, or alternatively, offset the …

declines. In contrast when consumers search with high intensity, increased competition results in lower prices when the number …We present an oligopoly model where a certain fraction of consumers engage in costly non-sequential search to discover … equilibrium consumers' search intensity, and<BR> (ii) to the status quo number of firms.<BR> For instance, when consumers search …

Economic Review 79, 700–12] by relaxing the assumption that consumers obtain the first price quotation for free. When all price …

faces competition from a slower but better accessible transport mode. To access the fast transport network individuals have … in the presence of competition the profit-maximizing and socially optimal decision would be to cluster the two stations …. By contrast, in the absence of competition both a profit-maximizing firm and a social planner would locate the two …

We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … show that competition improves the monitoring incentives of better quality banks and deteriorates the incentives of lower … quality banks; and that precisely for those lower quality banks competition typically compromises the effectiveness of capital …