In this paper, we study the relationship between reconciliations in the Colombian electricity market and the bid prices by firms on the spot market. In this work,we propose a model of behavior of the firm to elaborate theoretical predictions about the relationship between the reconciliations and...

[EN] Stewart (1994) presents a model of endogenous entry. In his article Stewart proposes the following topic for future research: "An important feature of the model is that entry would be inefficient from the producers' point of view, and therefore never occurs in equilibrium. But in practice...

One of the most important economic strategic sectors in any economy is the electricity market. Its main feature is its oligopolistic character favoured by the returns to scale which act as an entry barrier. As a result, the energy generators can use their power market in order to increase their...

La red productiva representa un mecanismo económico clave para comprender cómo los choques microeconómicos se propagan en el sistema económico. En esta línea se han desarrollo diversos trabajos teóricos bajo el supuesto de libre competencia, sin considerar el poder de mercado ni la posible...

We analyze the credit channel effects on new residential property prices in Medellín, Colombia, using a simultaneous equations model. Our empirical results show that the main determinants of new residential properties prices are mortgage interest rates and the availability of government...

El objetivo del presente trabajo es validar la existencia de poder de mercado ejercido por una firma integrada verticalmente en el mercado de procesamiento de operaciones realizadas mediante tarjetas de pago. La metodología usada se basa en el análisis de la variación de ese indicador como...

We analyze the behavior of electricity generation groups that make investment and production decisions in a liberalized market scenario by introducing long-term contracts, in a context where there is a high level of market concentration. In this way, a dynamic deterministic model of imperfect...

The objective of this contribution is to evaluate the weekly price dynamics of the biscuit sector in the framework of an economy with moderate inflation, such as Argentina. Using weekly frequency data, five versions of the function that relate cookie price weekly variations with their possible...

This study presents the competition beyond a single product market where a multi-product firm competes with monoproduct rivals through the use of different bundling strategies that impact the firms' incentives to make quality improvements in different ways. The pure bundling strategy can make...