This paper develops an asymmetric price setting oligopoly modelof store opening and closure decisions in the UK supermarket industrywhich is estimated using a survey of consumer choices and a datasetof store characteristics. The model is used to examine the strategiclocal entry and exit...

This paper reviews the literature on the economics of intellectual property rights (IPR), with a particular focus on the main industrial property rights of patents and trade marks. Intellectual property rights arise from the legal protection accorded to certain inventions or creations. We begin...

This paper examines the impact of mass media and information andcommunications technologies (ICT) as knowledge-based infrastructures oneconomic development. The results strongly suggest that both mass me-dia and ICT penetration are negatively associated with corruption. Thisresult holds across...

This paper presents an industry equilibrium model of vertical integration under contractualimperfections with speci…c input suppliers and external investors. I assume that vertical inte-gration economizes on the needs for contracts with speci…c input suppliers at the cost of higher…xed costs....

This paper analyses the implications of bargaining between buyers and sellers on the competitive outcome in a homogeneous good industry. Bargaining creates a competitive equilibrium in which some inefficient sellers coexist with efficient leading to productivity dispersion...

List prices are not completely credible as take it or leave it prices: buyers are able to seek reductions by bargaining with firms. We show that this realisation leads to the existence of a critical threshold number of competitors in an industry which depends on fundamentals. In industries with...

This paper analyses how competition over rebates for customer loyalty across product lines affects firms` pricing and consumers generally. If buyers incur firm specific costs or have shop specific tastes then competitive loyalty discounts lower consumer surplus overall and raise profits - the...

Firms selling multiple quality-differentiated products frequently alter theirproduct lines when a competitor enters the market. We present a model of multiproductmonopoly and duopoly using a general “upgrades” approach that yields a powerfulanalytical framework. We provide a simple...