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Market Power in Bilateral Oligopoly Markets with Nonexpandable Infrastructures

Funaki, Yukihiko; Houba, Harold; Motchenkova, Evgenia - Tinbergen Instituut - 2012

We consider price-fee competition in bilateral oligopolies with perfectly-divisible goods, non-expandable infrastructures, concentrated agents on both sides, and constant marginal costs. We define and characterize stable market outcomes. Buyers exclusively trade with the supplier with whom they...

Persistent link: https://www.econbiz.de/10011255451

Halal Certification for Financial Products: A Transaction Cost Perspective

Hayat, Raphie; Butter, Frank A.G. den; Kock, Udo - Tinbergen Instituut - 2011

This discussion paper has led to a publication in the Journal of Business Ethics, 2013, 117(3), 601-13. Halal certification of financials product may reduce transaction costs for its buyers when it provides a trusted standard for investors that seek to comply with Islamic law. However, we show...

Persistent link: https://www.econbiz.de/10011255522

From Tradition to Modernity: Economic Growth in a Small World

Lindner, Ines; Strulik, Holger - Tinbergen Instituut - 2012

Accepted for publication in the Journal of Development Economics. This paper introduces the Small World model (Watts and Strogatz, Nature, 1998) into the theory of economic growth and investigates how increasing economic integration affects firm size and efficiency, norm enforcement, and...

Persistent link: https://www.econbiz.de/10011255851

Price-setting Power versus Private Information

Sloof, Randolph - Tinbergen Instituut - 2003

This paper investigates the extent of the holdup underinvestment problem in a buyer-seller relationship in which the seller has private information about his alternative trading opportunities. Theory predicts that, compared with a situation in which outside options are publicly observed, the...

Persistent link: https://www.econbiz.de/10011255996

Radical Innovation and Network Evolution

Phlippen, Sandra; Riccaboni, Massimo - Tinbergen Instituut - 2007

This paper examines how a radical technological innovation affects alliance formation of firms and subsequent network … firms’ existing network, we provide some insight into distant link formation with unknown partners, which contributes to our …

Persistent link: https://www.econbiz.de/10011257059

The Formation of a Core Periphery Structure in Heterogeneous Financial Networks

Daan in 't Veld; Leij, Marco van der; Hommes, Cars - Tinbergen Instituut - 2014

Recent empirical evidence suggests that financial networks exhibit a core periphery network structure. This paper aims … at giving an economic explanation for the emergence of such a structure using network formation theory. Focusing on … intermediation benefits, we find that a core periphery network cannot be unilaterally stable when agents are homogeneous. The best …

Persistent link: https://www.econbiz.de/10011272587

Generalized Reduced Rank Tests using the Singular Value Decomposition

Kleibergen, Frank; Paap, Richard - Tinbergen Instituut - 2003

We propose a novel statistic to test the rank of a matrix. The rank statistic overcomes deficiencies of existing rank statistics, like: a Kronecker covariance matrix for the canonical correlation rank statistic of Anderson [Annals of Mathematical Statistics (1951), 22, 327–351] sensitivity to...

Persistent link: https://www.econbiz.de/10011249543

Tracing the Base: A Topographic Test for Collusive Basing-Point Pricing

Bos, Iwan; Schinkel, Maarten Pieter - Tinbergen Instituut - 2009

Basing-point pricing is known to have been abused by geographically dispersed firms in order to eliminate competition on transportation costs. This paper develops a topographic test for collusive basing-point pricing. The method uses transaction data (prices, quantities) and customer project...

Persistent link: https://www.econbiz.de/10011255456

A Test for the Portion of Bivariate Dependence in Multivariate Tail Risk

Bormann, Carsten; Schienle, Melanie; Schaumburg, Julia - Tinbergen Instituut - 2014

In practice, multivariate dependencies between extreme risks are often only assessed in a pairwise way. We propose a test to detect when tail dependence is truly high-dimensional and bivariate simplifications would produce misleading results. This occurs when a significant portion of the...

Persistent link: https://www.econbiz.de/10011255546

A K-sample Homogeneity Test based on the Quantification of the p-p Plot

Hinloopen, Jeroen; Wagenvoort, Rien; Marrewijk, Charles van - Tinbergen Instituut - 2008

We propose a quantification of the p-p plot that assigns equal weight to all distances between the respective distributions: the surface between the p-p plot and the diagonal. This surface is labelled the Harmonic Weighted Mass (HWM) index. We introduce the diagonal-deviation (d-d) plot that...

Persistent link: https://www.econbiz.de/10011255562