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Profitable horizontal mergers without cost advantages : the role of internal organization, information, and market structure

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2001

Merged firms are typically rather complex organizations. Accordingly, merger has a more profound effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The...

Persistent link: https://www.econbiz.de/10011398061

Preferential trade liberalization with endogenous cartel discipline : implications for welfare and optimal trade policies

Agnosteva, Delina; Syropoulos, Constantinos; Yotov, Yoto - 2020

We consider an international cartel whose members interact repeatedly in their own as well as in third …-country segmented markets. Cartel discipline-an inverse measure of the degree of competition between firms-is endogenously determined by … the cartel’s incentive compatibility constraint (ICC), which links strategically markets that are seemingly unrelated …

Persistent link: https://www.econbiz.de/10012287796

Multimarket linkages, cartel discipline and trade costs

Agnosteva, Delina; Syropoulos, Constantinos; Yotov, Yoto V. - 2017

. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are … strategically linked via the incentive compatibility constraint. Importantly, trade costs affect cartel shipments and welfare not … costs exert a negative and significant effect on cartel discipline. In turn, cartel discipline has a negative and …

Persistent link: https://www.econbiz.de/10011781965

Liberalizing Russian gas markets : an economic analysis

Aune, Finn Roar; Golombek, Rolf; Hallre, Hilde; Moe, Arild - 2015

The Russian gas market is highly regulated. In this paper we examine possible impacts of regulatory changes on the demand side of this market. In particular, we consider the effects on Russian energy consumers of removing natural gas subsidies, and how changes in Russian gas consumption may...

Persistent link: https://www.econbiz.de/10010533092

A life-cycle theory analysis of french household electricity demand

Belaïd, Fateh; Rault, Christophe; Massié, Camille - 2021

This paper develops a pseudo-panel approach to examine household electricity demand behaviour through the household life cycle and its response to income variations to help strengthen the energy policy-making process. Our empirical methodology is based on three rich independent microdata surveys...

Persistent link: https://www.econbiz.de/10012415417

Efficiency in wholesale electricity markets : on the role of externalities and subsidies

Bialek, Sylwia; Unel, Burcin - 2020

We evaluate the effects of homogeneous subsidies granted for emission-free electricity generation on market outcomes and social welfare. We use an analytical model to assess the conditions under which such subsidies increase efficiency of wholesale energy and capacity markets. While the...

Persistent link: https://www.econbiz.de/10012310514

Carbon prices are redundant in the 2030 EU climate and energy policy package

Aune, Finn Roar; Golombek, Rolf - 2018

In June 2018, an agreement between key EU institutions - the Commission, the European Parliament, and the European Council - was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a comprehensive assessment of the EU package, with its...

Persistent link: https://www.econbiz.de/10011933893

The welfare effects of persuasion and taxation : theory and evidence from the field

Rodemeier, Matthias; Löschel, Andreas - 2020

How much information should governments reveal to consumers if consumption choices have uninternalized consequences to society? How does an alternative tax policy compare to information disclosure? We develop a price theoretic model of information design that allows empiricists to identify the...

Persistent link: https://www.econbiz.de/10012211184

Interdependencies between countries in the provision of energy

Radulescu, Doina; Sulger, Philippe - 2021

Many economies are concerned with the future security of electricity supply. This is rooted in the necessity to decarbonise energy systems and in the nuclear phase-out. Hence, some economies, instead of investing in own domestic energy capacity, rely on energy production by their neighbours. At...

Persistent link: https://www.econbiz.de/10012433918

Buyer power in international markets

Raff, Horst; Schmitt, Nicolas - 2009

This paper investigates the implications for international markets of the existence of retailers/wholesalers with market power. Two main results are shown. First, in the presence of buyer power trade liberalization may lead to retail market concentration. Due to this concentration retail prices...

Persistent link: https://www.econbiz.de/10003872802