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The concept of a barrier to entry has been discussed least since Bain [1956] with important contributions by Spence … dedicated session at the 2004 AEA meeting. Yet, a 'barrier to entry' remains a surprisingly elusive concept, which even … subject fail to resolve the issue, because they insist on analyzing barriers to entry in the context of identical firms in …
Persistent link: https://www.econbiz.de/10011166351
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We propose a joint modeling of spot electricity prices, forwards prices and other derivative prices, using recent developments in discrete time asset pricing methods based on the notions of stochastic discount factor and of compound autoregressive (or affine) stochastic processes. We show that...
Persistent link: https://www.econbiz.de/10010861561
We prove that a natural monopoly can set subsidy free pricing and sustainable pricing schedules in general economic environment. The setting is a multiproduct and multiple agent contestable market where demands are elastic and where rivals can enter the sub-markets composed by a set of the...
Persistent link: https://www.econbiz.de/10010905176
This study examines the impact of real estate brokers on the price of residential properties sold in 2005 in twelve French cities. The results indicate that brokers increase the prices of properties they sell even though they appear to have heterogeneous behaviours across cities. The impact of...
Persistent link: https://www.econbiz.de/10010905232
We provide some existence results of stable pricings for natural monopoly as defined in the theory of contestable markets. The main addings are based on the assumption of separated markets and the possibilities of entries. We borrow tools from cooperative game theory. Following the work of...
Persistent link: https://www.econbiz.de/10010905237
We prove the existence of subsidy free and sustainable pricing schedule in multiproduct contestable markets. We allow firms to discriminate the local markets that are composed by a set of the products line and a set of agents. Results are obtained under an assumption of fair sharing cost and...
Persistent link: https://www.econbiz.de/10010905384
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The electronic marketplaces, as an interorganizational entity, is not limited to a transactional dimension. Indeed, those companies that survived the initial consolidation have increasingly expanded their functions and contribute to a new competition dynamic. This new competitiveness has set off...
Persistent link: https://www.econbiz.de/10010752109
Different types of markets exist throughout the world but how are they created? In this book, an interdisciplinary team of authors provide an evolutionary vision of how markets are designed and shaped. Drawing on a series of case studies, they show that markets are far from perfect and natural...
Persistent link: https://www.econbiz.de/10010790037