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Exclusionary Minimum Resale Price Maintenance

Asker, John - 2010

incumbent manufacturer transfer profits to retailers. If entry is accommodated, upstream competition leads to fierce down …- stream competition and the breakdown of RPM. Hence, via RPM, retailers internalize the effect of accommodating entry on the … effect of a retailer cartel. We also consider the effect of imperfect competition. Empirical and policy implications are …

Persistent link: https://www.econbiz.de/10013135407

On the Efficiency of Competitive Electricity Markets with Time-Invariant Retail Prices

Borenstein, Severin; Holland, Stephen P. - 2021

The standard economic model of efficient competitive markets relies on the ability of sellers to charge prices that vary as their costs change. Yet, there is no restructured electricity market in which most retail customers can be charged realtime prices (RTP), prices that can change as...

Persistent link: https://www.econbiz.de/10013247631

Industry Structure, Segmentation, and Competition in the U.S. Hotel Industry

Butters, R. Andrew - 2019

, quality competition came more in the form of costs that vary with hotel size, and less in the form of costs that are fixed …

Persistent link: https://www.econbiz.de/10012857730

Competing with Costco and Sam's Club : Warehouse Club Entry and Grocery Prices

Courtemanche, Charles - 2011

Prior research shows grocery stores reduce prices to compete with Walmart Supercenters. This study finds evidence that the competitive effects of two other big box retailers - Costco and Walmart-owned Sam's Club - are quite different. Using city-level panel grocery price data matched with a...

Persistent link: https://www.econbiz.de/10013122463

Vertical Arrangements, Market Structure, and Competition an Analysis of Restructured U.S. Electricity Markets

Bushnell, James - 2007

This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail prices are determined beforehand. For three restructured markets, we simulate prices that define...

Persistent link: https://www.econbiz.de/10012775797

Competition and Price Dispersion in the U.S. Airline Industry

Borenstein, Severin; Rose, Nancy E. - 2021

This papers analyzes dispersion in the prices that an airline charges to different customers on the same route. Such variation in airlines fares is substantial: the expected absolute difference in fares between two of an airline's passengers on a route averages thirty-six percent of the...

Persistent link: https://www.econbiz.de/10013229357

Information Percolation in Segmented Markets

Duffie, Darrell - 2011

We calculate equilibria of dynamic double-auction markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors are segmented into groups that differ with respect to characteristics determining information...

Persistent link: https://www.econbiz.de/10013121588

Aggregate Implications of Micro Asset Market Segmentation

Edmond, Chris - 2010

This paper develops a consumption-based asset pricing model to explain and quantify the aggregate implications of a frictional financial system, comprised of many financial markets partially integrated with one-another. Each of our micro financial markets is inhabited by traders who are...

Persistent link: https://www.econbiz.de/10013151364

The Dynamics of Financially Constrained Arbitrage

Gromb, Denis - 2015

We develop a model of financially constrained arbitrage, and use it to study the dynamics of arbitrage capital, liquidity, and asset prices. Arbitrageurs exploit price discrepancies between assets traded in segmented markets, and in doing so provide liquidity to investors. A collateral...

Persistent link: https://www.econbiz.de/10013027277

Displaced Capital

Ramey, Valerie A.; Shapiro, Matthew D. - 2021

This paper studies the efficiency with which physical capital can be reallocated across sectors. It presents a model of a firm selling specialized capital in a thin resale market. The model predicts that the selling price depends not only on the sectoral specificity of capital, but also on the...

Persistent link: https://www.econbiz.de/10013220526

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