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Status Quo Effects in Bargaining: An Empirical Analysis of OPEC

Hyndman, Kyle - EconWPA - 2005

We conduct an event analysis on OPEC quota announcements to determine their impact on the stock returns in the oil industry. We find that announcements to reduce the quota are followed by positive excess returns over pre-announcement levels, announcements of no action are met with negative...

Persistent link: https://www.econbiz.de/10005412889

Price Wars and Collusion in the Spanish Electricity Market

Fabra, Natalia; Toro, Juan - EconWPA - 2002

\We analyze the time-series of prices in the Spanish electricity market by means of a time varying-transition-probability Markov switching model. Accounting for changes in demand and cost conditions (which reflect changes in input costs, capacity availability and hydro power), we show that the...

Persistent link: https://www.econbiz.de/10005412904

Advantageous or Disadvantageous Semi-collusion Licensing in a Vertically Separated Industry

Mukherjee, Arijit - EconWPA - 2002

This paper compares profits and consumer surplus under non-cooperation and collusion in the product market when the …-cooperation or product market collusion depends on the R\&D productivity. If the market size is sufficiently small then firms are … always better off under product market collusion. If the market size is moderate (relatively large) then the firms are better …

Persistent link: https://www.econbiz.de/10005412980

Equilibrium Vertical Foreclosure in the Repeated Game

Normann, Hans-Theo - EconWPA - 2004

are that foreclosure is in fact a subgame perfect Nash equilibrium of the repeated game, and it may facilitate collusion …

Persistent link: https://www.econbiz.de/10005076896

Stochastic Market Sharing, Partial Communication and Collusion

Gerlach, Heiko - EconWPA - 2005

This paper analyzes the role of communication between firms in an infinitely repeated Bertrand game in which firms receive an imperfect private signal of a common value i.i.d. demand shock. It is shown that firms can use stochastic, inter-temporal market sharing as a perfect substitute for...

Persistent link: https://www.econbiz.de/10005561404

Collusion with Capacity Constraints over the Business Cycle

Fabra, Natalia - EconWPA - 2003

This paper investigates the effect of capacity constraints on the sustainability of collusion in markets subject to …

Persistent link: https://www.econbiz.de/10005125033

The Impact of Entry and Competition by Open Source Software on Innovation Activity

Bitzer, Jürgen; Schröder, Philipp J.H. - EconWPA - 2005

This paper presents the stylized facts of open source software innovation and provides empirical evidence on the impact of increased competition by OSS on the innovative activity in the software industry. Furthermore, we introduce a simple formal model that captures the innovation impact of OSS...

Persistent link: https://www.econbiz.de/10005412869

Pricing of Complementary Goods and Network Effects

Economides, Nicholas; Viard, Brian - EconWPA - 2004

We discuss the case of a monopolist of a base good in the presence of complementary goods provided either by it or by other firms. We assess and calibrate the extent of the influence on the profits from the base good that is created by the existence of complementary goods, i.e., the extent of...

Persistent link: https://www.econbiz.de/10005412872

Licensing and the Incentive for Innovation

Mukherjee, Arijit; Mukherjee, Soma - EconWPA - 2002

Previous literature has mostly considered R&D and licensing activities separately. In this paper we examine the effect of licensing on R&D and social welfare. We show that the effect of licensing on the incentive for doing R&D is ambiguous and depends on the costs of doing R&D. We also show that...

Persistent link: https://www.econbiz.de/10005412874

Loss Leaders: An Indirect Empirical Test

Lee, Tom S.; Png, I.P.L. - EconWPA - 2004

We apply an indirect method to test for the extent of loss leader pricing. Specifically, the extent of loss leader pricing should increase with the profit from other regularly-priced items. Bookstores customarily use bestsellers as loss leaders. Among conventional bookstores, we found that the...

Persistent link: https://www.econbiz.de/10005412883

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