Assuming a fixed-proportion downstream production technology, partial forward integration by an upstream monopolist may be observed whether the monopolist is advantaged or disadvantaged cost-wise relative to fringe firms in the downstream market. Integration need not induce cost-predation and...

Assuming a fixed-proportion downstream production technology, partial forward integration by an upstream monopolist may be observed whether the monopolist is advantaged or disadvantaged cost-wise relative to fringe firms in the downstream market. Integration need not induce cost-predation and...

We analyze sequential second-price auctions under complete information involving two or more bidders with similar decreasing marginal valuations. Krishna (1999) designed a 2-bidder numerical example to show the existence of two symmetric equilibria characterized by an asymmetric allocation and...

We analyze sequential second-price auctions under complete information involving two or more bidders with similar decreasing marginal valuations. Krishna (1999) designed a 2-bidder numerical example to show the existence of two symmetric equilibria characterized by an asymmetric allocation and...