The article examines a differentiated-products duopoly model where the firms make entry decisions to two markets and then choose prices. The effects of product differentiation and entry costs are analyzed in two games: with and without price discrimination between the markets. Allowing price...

Consumers often have to decide whether to go to a remote store for a lower price. Only the absolute price difference between the stores should be relevant in this case, but several experiments showed that people exhibit "relative thinking": they are affected also by the relative savings...

Article about alternative interpretations of the concept of "competition" as the adaptive behavior of market participants. The author substantiates the thesis of the identity of market adaptation and market competition rather than rivalry.

Around the turn of the century from the 20th to the 21st, the inter-firm relations in the Japanese steel industry changed greatly. Within the country, NKK and Kawasaki Steel consolidated all their businesses and chartered JFE Holdings. Nippon Steel, Sumitomo Metals, and Kobe Steel formed...