This paper examines a change in the level of competition in the Japanese life insurance industry over the last 17 years …. We estimate the first order condition for profit-maximizing insurance oligopolies to obtain the degree of non-competition … and collusion. Estimation results suggest that: 1) not only stock companies, but also mutual companies maximize their own …

We examine whether cooperation in R&D leads to product market collusion. Suppose that firms engage in a stochastic R … symmetries, thereby facilitating collusion. Sharing an efficient technology also increases industry profit, which contributes to … the collusion stability but also raises social welfare. Interestingly, a welfare improvement is less likely if innovation …

loss that arises from more intense market competition: the low-cost firms' profits may indeed increase with the number of …

attention to the role of domestic competition. We find that the welfare effect of FDI is largely non-monotonic, and there are … expense of consumers rather than the unions: in fact, quite contrary to the popular belief, FDI may actually benefit the … unions because it serves to soften price competition between them. The paper points out that welfare effects of outward FDI …

-targeted consumers, which passive consumers cannot. When all consumers are passive, personalized pricing leads to intense competition and … raise the firm's cost of serving non-targeted consumers, which softens competition. When firms have sufficiently large and …We study a duopoly model where each firm chooses personalized prices for its targeted consumers, who can be active or …

We extend the well-known spatial competition model (d'Aspremont et al., 1979) to a continuous time model in which two …

loss that arises from more intense market competition: the low-cost firms' profits may indeed increase with the number of …