This paper studies vertical R&D spillovers between upstream and downstream firms. The model incorporates two vertically related industries, with horizontal spillovers within each industry and vertical spillovers between the two industries. Four types of R&D cooperation are studied: no...

We analyze a dynamic model of strategic interaction between a professional sport league that organizes a tournament, the teams competing to win it, and the broadcasters paying for the rights to televise it. Teams and broadcasters maximize expected profits, while the league's objective may be...

The paper analyses the forces that shape demand and supply processes in the market for cocoa powder. A brief statistical summary is given of the main trends in international demand and production, and the spatial shifts in cocoa processing. Ample attention is given to the role of technology...

Paper is under revision, pdf is not available. Competitive balance is what makes the sport becoming an attractive event. Contrary to other industries, a reduction in competition and a hypothetically dominant position could mean the end of the championship. If there is only one team, the...

The creation of electricity markets has raised the fundamental question as to whether markets provide the right incentives for the provision of the reserves needed to maintain system reliability, or whether some form of regulation is needed. In some states in the US, electricity retailers have...

Recent developments in information technology (IT) have resulted in the collection of a vast amount of customer specific data. As the IT advances the quality of such information improves. We analyze a sequential spatial model of oligopolistic third degree price discrimination where the firms use...

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...

We investigate how the endogenous acquisition of information, of a certain quality level, on consumers' willingness to pay (location) affects the equilibrium prices and welfare in a spatial price discrimination model. By varying the information quality we are able to obtain the equilibrium in...

In this paper I intend to model a firm decision of entrance into a profitable fashion market where fashion results from the existence of positive interdependence between buyers utility functions. I conclude theoretically that i) when incumbent firm has an aggressive strategy it sets a marketing...

The paper questions the standard economic assumptions that competing economic agents have identical reservation utility levels, and that when differences in opportunity costs exit, they can be conveniently represented by fixed costs. Opportunity costs are endogenized by linking them to current...