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How Efficient is a Contestable Natural Monopoly?
Weichenrieder, Alfons - CESifo - 1999
This paper considers the efficiency of a contestable natural monopoly if consumers are heterogeneous and the monopolist can differentiate prices imperfectly. With restricted entry, the standard result in this case is that the monopoly offers a menu of price-quantity combinations which leads to...
Persistent link: https://www.econbiz.de/10005405906
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Anti-Competitive Conduct, In-House R&D, and Growth
Grossmann, Volker; Steger, Thomas - CESifo - 2007
Incumbent firms have two basic possibilities to improve their competitive position in the product market: investment in R&D and the creation of entry barriers to the disadvantage of potential rivals, e.g. through lobbying activities, campaign contributions, bribes or the adoption of incompatible...
Persistent link: https://www.econbiz.de/10005406194
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Product Unbundling in the Travel Industry: The Economics of Airline Bag Fees
Brueckner, Jan K.; Lee, Darin N.; Picard, Pierre M.; … - CESifo - 2013
unbundling. The theory predicts that an airline’s fares should fall when it introduces a bag fee, but that the full trip price …
Persistent link: https://www.econbiz.de/10010877747
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Measuring Strategic Firm Interaction in Product-Quality Choices: The Case of Airline Flight Frequency
Brueckner, Jan K.; Luo, Dan - CESifo - 2013
This paper investigates strategic interaction among airlines in product-quality choices. Using an instrumental … variables approach, the paper estimates flight-frequency reaction functions, which relate an airline’s frequency on a route to … its own characteristics and to the frequencies of competing airlines. A positive reaction function slope is found in some …
Persistent link: https://www.econbiz.de/10010877953
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Carve-Outs under Airline Antitrust Immunity
Brueckner, Jan K.; Proost, Stef - CESifo - 2009
This paper offers the first formal economic analysis of carve-outs under airline antitrust im- munity. Carve-outs are designed to limit the potential anticompetitive effects of cooperation by alliance partners in hub-to-hub markets, where they provide overlapping nonstop service. While the paper...
Persistent link: https://www.econbiz.de/10008533998
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European Airline Mergers, Alliance Consolidation, and Consumer Welfare
Brueckner, Jan K.; Pels, Eric - CESifo - 2004
-KLM and SkyTeam alliances into a single mega-alliance. The results of the analysis show that, although the airlines benefit …
Persistent link: https://www.econbiz.de/10005196317
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Airline Emission Charges: Effects on Airfares, Service Quality, and Aircraft Design
Brueckner, Jan K.; Zhang, Anming - CESifo - 2009
features, and network structure, using a detailed and realistic theoretical model of competing duopoly airlines. These impacts …
Persistent link: https://www.econbiz.de/10005094276
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Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity
Manzano, Carolina; Vives, Xavier - CESifo - 2010
We study a general static noisy rational expectations model, where investors have private information about asset payoffs, with common and private components, and about their own exposure to an aggregate risk factor, and derive conditions for existence and uniqueness (or multiplicity) of...
Persistent link: https://www.econbiz.de/10008511613
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A Game-Theoretic Foundation for the Wilson Equilibrium in Competitive Insurance Markets with Adverse Selection
Mimra, Wanda; Wambach, Achim - CESifo - 2011
We extend the seminal Rothschild and Stiglitz (1976) model on competitive insurance markets with asymmetric information in the spirit of Wilson (1977)’s ‘anticipatory equilibrium’ by introducing an additional stage in which initial contracts can be withdrawn after observation of...
Persistent link: https://www.econbiz.de/10008914286
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What Drives Taxi Drivers? A Field Experiment on Fraud in a Market for Credence Goods
Balafoutas, Loukas; Beck, Adrian; Kerschbamer, Rudolf; … - CESifo - 2011
Credence goods are characterized by informational asymmetries between sellers and consumers that invite fraudulent behavior by sellers. This paper presents the results of a natural field experiment on taxi rides in Athens, Greece, set up to measure different types of fraud and to examine the...
Persistent link: https://www.econbiz.de/10009020798