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Capacity Choices in Liberalized Electricity Markets
Castro-Rodriguez, Fidel; Uribe, Marín; Luis, Pedro; … - C.E.P.R. Discussion Papers - 2001
absence of any regulation, private investment decisions on capacity unambiguously lead to a socially sub-optimal outcome, and …
Persistent link: https://www.econbiz.de/10005792333
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Exclusive Contracts and Market Power: Evidence from Ocean Shipping
Uribe, Marín; Luis, Pedro - C.E.P.R. Discussion Papers - 2001
There is a substantial theoretical literature on the potential effects of loyalty contracts, but a relative paucity of empirical work. This Paper employs the event study methodology to examine the effect of exclusionary contracts on firm performance in the ocean shipping industry. Shipping...
Persistent link: https://www.econbiz.de/10005497855
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Naked exclusion: Towards a behavioral approach to exclusive dealing
Boone, Jan; Müller, Wieland; Suetens, Sigrid - C.E.P.R. Discussion Papers - 2009
We report experimental results on exclusive dealing inspired by the literature on "naked exclusion.'' Our key findings are: First, exclusion of a more efficient entrant is a widespread phenomenon in lab markets. Second, allowing incumbents to discriminate between buyers increases exclusion rates...
Persistent link: https://www.econbiz.de/10004991543
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The Distribution of Harm in Price-Fixing Cases
Boone, Jan; Müller, Wieland - C.E.P.R. Discussion Papers - 2008
We consider a vertically related industry and analyze how the total harm due to a price increase upstream is distributed over downstream firms and final consumers. For this purpose, we develop a general model without making specific assumptions regarding demand, costs, or the mode of...
Persistent link: https://www.econbiz.de/10005666424
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Strategic Supply Function Competition with Private Information
Vives, Xavier - 2009
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10014202206
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Strategic Bidding in Electricity Pools with Short-Lived Bids: An Application to the Spanish Market
García-Díaz, Antón; Uribe, Marín; Luis, Pedro - C.E.P.R. Discussion Papers - 2000
We generalize von der Fehr and Harbord's (1993) multi-unit auction model for the case of a deterministic demand allowing for any technology mix and elastic demand in order to account for demand side bidding. We obtain a general characterization of the equilibrium and show that the Cournot model...
Persistent link: https://www.econbiz.de/10005789069
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Strategic Supply Function Competition with Private Information
Vives, Xavier - C.E.P.R. Discussion Papers - 2008
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10005789071
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Economic Integration and Investment Incentives in Regulated Industries
Auriol, Emmanuelle; Biancini, Sara - C.E.P.R. Discussion Papers - 2009
The paper studies the impact of market integration on investment incentives in non-competitive industries. It distinguishes between investment in transportation and production cost-reducing technologies. Each domestic firm is controlled by a national regulator in a common market made of two...
Persistent link: https://www.econbiz.de/10005012490
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Government Outsourcing: Public Contracting with Private Monopoly
Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006
The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation … to regulation is proposed in which firms are free to enter the market and to choose their price and output levels … than traditional regulation where governments commit to both investment and operation cash-flows. This is especially …
Persistent link: https://www.econbiz.de/10005067470
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A Theory of BOT Concession Contracts
Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2011
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries entice...
Persistent link: https://www.econbiz.de/10008921773