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Acemoglu, Daron - 2010

We study the efficiency of oligopoly equilibria in a model where firms compete over capacities and prices. The … demands across the firms. We first establish the existence of pure strategy subgame perfect equilibria (oligopoly equilibria … oligopoly equilibria of this game can be arbitrarily low. However, if the best oligopoly equilibrium is selected (among multiple …

Persistent link: https://www.econbiz.de/10012760481

A Dynamic Oligopoly with Collusion and Price Wars

Fershtman, Chaim; Pakes, Ariel - 2001

Most of the theoretical work on collusion and price wars assumes identical firms and an unchanging environment, assumptions which are at odds with what we know about most industries. Further that literature focuses on the impact of collusion on prices. Whether an industry can support collusion...

Persistent link: https://www.econbiz.de/10014156182

A Dynamic Oligopoly with Collusion and Price Wars

Fershtman, Chaim; Pakes, Ariel - 2021

Persistent link: https://www.econbiz.de/10013223570

Estimating Dynamic Games of Oligopolistic Competition : An Experimental Investigation

Salz, Tobias - 2020

We evaluate dynamic oligopoly estimators with laboratory data. Using a stylized en-try/exit game, we estimate …

Persistent link: https://www.econbiz.de/10012841410

Does Strategic Ability Affect Efficiency? Evidence from Electricity Markets

Hortaçsu, Ali - 2017

Oligopoly models of price competition predict that strategic firms exercise market power and generate inefficiencies …

Persistent link: https://www.econbiz.de/10012953975

An Aggregative Games Approach to Merger Analysis in Multiproduct-Firm Oligopoly

Nocke, Volker - 2018

Using an aggregative games approach, we analyze horizontal mergers in a model of multiproduct-firm price competition with nested CES or nested logit demands. We show that the Herfindahl index provides an adequate measure of the welfare distortions introduced by market power, and that the induced...

Persistent link: https://www.econbiz.de/10012919859

Nonlinearities and the Macroeconomic Effects of Oil Prices

Hamilton, James D. - 2010

This paper reviews some of the literature on the macroeconomic effects of oil price shocks with a particular focus on possible nonlinearities in the relation and recent new results obtained by Kilian and Vigfusson (2009)

Persistent link: https://www.econbiz.de/10013141004

Agro-Ecosystem Productivity and the Dynamic Response to Shocks

Chavas, Jean-Paul - 2016

This paper investigates the nonlinear dynamic response to shocks, relying on a threshold quantile autoregression (TQAR) model as a flexible representation of stochastic dynamics. The TQAR model can identify zones of stability/instability and characterize resilience and traps. Resilience means...

Persistent link: https://www.econbiz.de/10012983434

Solution Methods for Models with Rare Disasters

Fernández-Villaverde, Jesús - 2016

This paper compares different solution methods for computing the equilibrium of dynamic stochastic general equilibrium (DSGE) models with rare disasters along the line of those proposed by Rietz (1988), Barro (2006}, Gabaix (2012), and Gourio (2012). DSGE models with rare disasters require...

Persistent link: https://www.econbiz.de/10012998933

Semiparametric Estimation of a Dynamic Game of Incomplete Information

Bajari, Patrick; Hong, Han - 2021

Recently, empirical industrial organization economists have proposed estimators for dynamic games of incomplete information. In these models, agents choose from a finite number actions and maximize expected discounted utility in a Markov perfect equilibrium. Previous econometric methods estimate...

Persistent link: https://www.econbiz.de/10013227535