Showing 1 - 10 of 6,476
. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …
Persistent link: https://www.econbiz.de/10013129134
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
We study a new data set of US sports card conventions in order to evaluate the pricing theory of two-sided markets … findings: first, consumer pricing decreases with competition at any reasonable distance, but pricing to dealers is insensitive … to competition and in longer distances even increases with competition. Second, when consumer price is zero (and thus …
Persistent link: https://www.econbiz.de/10013108246
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
This study explores empirically the price dynamics within two distinct market institutions - a double oral auction, which resembles modern asset markets, and a bilateral exchange market, which represents markets that have existed for centuries. To provide a theoretical basis to our...
Persistent link: https://www.econbiz.de/10013138763
We complete the study of comparative statics initiated in Caplin and Leahy [2010], which introduced a new mathematical apparatus for understanding NTU allocation markets, as such covering the housing market and other markets for large indivisible goods. We introduce homotopy methods to...
Persistent link: https://www.econbiz.de/10013139024
is the elasticity of capacity with respect to fixed labor. Under competition and risk neutrality this coefficient is … reject the joint hypothesis of competition and risk neutrality. It is also argued that the coefficient of total man …
Persistent link: https://www.econbiz.de/10013139426
This paper develops a parsimonious static model for characterizing financing terms in collateralized lending markets. We characterize the systematic risk exposures for a variety of securities and develop a simple indifference-pricing framework to value the systematic crash risk exposure of the...
Persistent link: https://www.econbiz.de/10013120294
We introduce the interview assignment problem, which generalizes the one-to-one matching model of Gale and Shapley (1962) by introducing a stage of costly information acquisition. Firms learn preferences over workers via costly interviews. Even if all firms and workers conduct the same number of...
Persistent link: https://www.econbiz.de/10013160336
The hypothesis that financial markets punish traders who make relatively inaccurate forecasts and eventually eliminate the effect of their beliefs on prices is of fundamental importance to the standard modeling paradigm in asset pricing. We establish necessary and sufficient conditions for...
Persistent link: https://www.econbiz.de/10013151814