This paper evaluates alternative strategic models of competition and market structure inonline retailing, and makes comparisons with traditional retailing. Online consumers areless concerned than traditional consumers about spatial characteristics and moreconcerned about hidden quality...

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...

In many markets firms set posted prices which are potentially negotiable. We analyze theoptimal marketing mix of pricing and bargaining when price takers buy at posted prices butbargainers attempt to negotiate discounts. The optimal bargaining strategy involves the firmsoffering bargainers...

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...

This paper presents a simple model of risk-averse banks that face uncer-tainty over funding conditions in the money market. It shows when increasedfunding uncertainty causes interest rates on loans and deposits to rise, whilebank lending and bank pro…tability fall. It also …nds that funding...

In this paper we use a dynamic structural life-cycle model to analyze the employment,fiscal and welfare effects induced by unemployment insurance. The model features a detailedspecification of the tax and transfer system, including unemployment insurance benefitswhich depend on an individual's...

Many social networks have the following properties: (i) a short average distancebetween any two individuals; (ii) a high clustering coe±cient; (iii) segregation pat-terns; the presence of (iv) brokers and (v) hubs. (i) and (ii) de¯ne a small worldnetwork. This paper develops a strategic...

This paper discusses the place of oligopoly in international trade theory, and ar-gues that it is unsatisfactory to ignore …rms altogether, as in perfectly competitivemodels, or to view large …firms as more productive clones of small ones, as in monop-olistically competitive models. Doing...