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We analyze a market where firms compete in a conventional and an electronicretail channel. Consumers easily compare prices online, but some incur purchaseuncertainties on the online channel. We investigate the market shares of the two retailchannels and the prices that are charged. We find that...
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We analyze the incentives for incumbent bricks-and-mortar firms and newentrants to start an online retail channel in a differentiated goods market. Tothis end we set up a two-stage model where firms first decide whether or notto build the infrastructure necessary to start an online retail...
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In this paper we consider one-to-many matching problems where the preferences of the agents involved are represented by … matching to a matching of maximum total reward, one can always provide a compensation schedule that will be ex-post stable in … uses the fact that the core of an associated compensation matching game with constraints is nonempty. …
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We examine recent claims that a particular Q-learning algorithm used by competitors 'autonomously' and systematically … detailed analysis of the inner workings of this algorithm reveals that there is no immediate reason for alarm. We set out what … is needed to demonstrate the existence of a colluding price algorithm that does form a threat to competition. …
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