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Bailouts and the Preservation of Competition
Roberts, James W. - 2011
Governments rescue private companies partly to prevent other firms from gaining excessive market power. However, if failing firms exit, new entry may limit remaining firms' market power if there are potential entrants who can be as effective competitors as the firms leaving the market. We...
Persistent link: https://www.econbiz.de/10013131956
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Blockchain Disruption and Smart Contracts
Cong, Lin William - 2018
effectiveness, and how the quintessential features of blockchain reshape industrial organization and the landscape of competition … competition, yet the irreducible distribution of information during consensus generation may encourage greater collusion. In …
Persistent link: https://www.econbiz.de/10012925288
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Antitrust and Competition in Health Care Markets
Gaynor, Martin; Vogt, William B. - 2021
In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a … ways that might affect the optimality of competition. The paper then focuses on the main areas in which antitrust has been …
Persistent link: https://www.econbiz.de/10013224318
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Some Economic Aspects of Antitrust Analysis in Dynamically Competitive Industries
Schmalensee, Richard; Evans, David S. - 2021
Competition in many important industries centers on investment in intellectual property. Firms engage in dynamic …, Schumpeterian competition for the market, through sequential winner-take-all races to produce drastic innovations, rather than … through static price/output competition in the market. Sound antitrust economic analysis of such industries requires explicit …
Persistent link: https://www.econbiz.de/10013248676
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The Competition between Competition Rules
Sinn, Hans-Werner - 2021
Open borders imply systems competition. This paper studies the implications of systems competition for the national … competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since …
Persistent link: https://www.econbiz.de/10013227744
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A Competitive Theory of Monopoly Unionism
Lazear, Edward P. - 2021
This paper sets up a microeconomic theory of labor unions. It discusses their formation and goals, their hierarchical structure, and the nature of rent distribution. The theory provides predictions for the probability that an industry or occupation will be unionized, the proportion of that...
Persistent link: https://www.econbiz.de/10013229837
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Hospital Network Competition and Adverse Selection : Evidence from the Massachusetts Health Insurance Exchange
Shepard, Mark - 2016
Health insurers increasingly compete on their covered networks of medical providers. Using data from Massachusetts' pioneer insurance exchange, I find substantial adverse selection against plans covering the most prestigious and expensive “star” hospitals. I highlight a theoretically...
Persistent link: https://www.econbiz.de/10012983664
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Kill Zone
Kamepalli, Sai Krishna; Rajan, Raghuram G.; Zingales, Luigi - 2022
We study why acquisitions of entrant firms by an incumbent can deter innovation and entry in the digital platform industry, where there are strong network externalities and some customers face switching costs. A high probability of an acquisition induces some potential early adopters to wait for...
Persistent link: https://www.econbiz.de/10013298326
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Costly Contracts and Consumer Credit
Livshits, Igor - 2011
Financial innovations are a common explanation of the rise in consumer credit and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers' risk of default and a fixed cost to create each contract offered by...
Persistent link: https://www.econbiz.de/10013120205
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Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?
Agarwal, Sumit - 2015
We propose a new approach to studying the pass-through of credit expansion policies that focuses on frictions, such as asymmetric information, that arise in the interaction between banks and borrowers. We decompose the effect of changes in banks' cost of funds on aggregate borrowing into the...
Persistent link: https://www.econbiz.de/10013015102