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One-Way Compatibility, Two-Way Compatibility and Entry in Network Industries
Manenti, Fabio M.; Somma, Ernesto - EconWPA - 2002
We study the strategic choice of compatibility between two initially incompatible network goods in a two-stage game played by an incumbent and an entrant firm. Compatibility may be achieved by means of a converter. We derive a number of results under different assumptions about the nature of the...
Persistent link: https://www.econbiz.de/10005134422
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The Competitive Effects of Price-Floors
Bhaskar, V.; UK, Andrews KY16 9AL - EconWPA - 1996
We analyze the effects of a legally-binding price floor using Hotelling's model of locational competition. A moderate price-floor destroys the maximal differentiation equilibrium of d'Aspremont et. al., by allowing firms to compete more aggressively for market share. Minimum differentiation...
Persistent link: https://www.econbiz.de/10005134523
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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
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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
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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
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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
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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
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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
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Monopoly intermediary and information transmission
Quesada, Lucia; Peyrache, Eloic - EconWPA - 2003
In this paper we extend Lizzeri's simple model of information transmission through certification intermediaries. A seller with no means to signal his quality has the possibility to be certified by an institution that owns a technology to discover the true quality and can credibly commit to a...
Persistent link: https://www.econbiz.de/10005561385
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Software houses: Changing from Product vendors into solution Providers
Heng, Stefan - EconWPA - 2005
Integrating hitherto separate IT systems while keeping within with tight budgetary restrictions is becoming the dominant software trend in this decade. Optimism is currently starting to spread again in software houses. However, there are marked regional differences in potential. Contrary to some...
Persistent link: https://www.econbiz.de/10005561401