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Bargaining and Dynamic Competition
Deng, Shanglyu; Jia, Dun; Leccese, Mario; Sweeting, Andrew - National Bureau of Economic Research - 2024
Industries with significant scale economies or learning-by-doing may come to be dominated by a single firm. Economists have studied how likely this is to happen, and whether it is efficient, using models where buyers are price or quantity takers, even though these industries are often also...
Persistent link: https://www.econbiz.de/10014528398
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Energy, Groundwater, and Crop Choice
Burlig, Fiona; Preonas, Louis; Woerman, Matt - National Bureau of Economic Research - 2021
Groundwater is a key resource for agricultural production globally. Increasingly rapid aquifer drawdowns--as well as … consequences. This paper provides the first large-scale empirical estimates of how farmers respond to changes in groundwater costs … variation in the price of electricity, a key input into groundwater extraction, we find that farmers are very price responsive …
Persistent link: https://www.econbiz.de/10012510584
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Do Property Rights Alleviate the Problem of the Commons? Evidence from California Groundwater Rights
Ayres, Andrew B. - 2019
their effectiveness remains elusive. We develop a model of dynamic groundwater extraction to demonstrate how a spatial …
Persistent link: https://www.econbiz.de/10012480212
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How Transaction Costs Obstruct Collective Action : Evidence from California’s Groundwater
Ayres, Andrew B. - 2017
groundwater basins using a new dataset to identify factors that influence the adoption of extraction controls. In 309 basins … severely overdrafted. Meanwhile, users in 31 basins have defined groundwater property rights, the most complete solution. We …
Persistent link: https://www.econbiz.de/10012455299
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Does Agriculture Generate Local Economic Spillovers? Short-run and Long-run Evidence from the Ogallala Aquifer
Hornbeck, Richard - 2012
agricultural gains when post-WWII technologies increased farmers' access to groundwater. Comparing counties over the Ogallala with …
Persistent link: https://www.econbiz.de/10012460244
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The Evolving Impact of the Ogallala Aquifer : Agricultural Adaptation to Groundwater and Climate
Hornbeck, Richard - 2011
, technological improvements made groundwater from the Ogallala aquifer available for irrigation. Comparing counties over the Ogallala … with nearby similar counties, groundwater access increased irrigation intensity and initially reduced the impact of …
Persistent link: https://www.econbiz.de/10012461032
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Retrospective Search : Exploration and Ambition on Uncharted Terrain
Urgun, Can; Yariv, Leeat - National Bureau of Economic Research - 2021
We study a model of retrospective search in which an agent--a researcher, an online shopper, or a politician--tracks the value of a product. Discoveries beget discoveries and their observations are correlated over time, which we model using a Brownian motion. The agent, a standard exponential...
Persistent link: https://www.econbiz.de/10012616575
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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 structural parameters under the assumption that the data are generated by a Markov-perfect equilibrium (MPE) and use the estimates to predict counterfactual behavior. The concern is that...
Persistent link: https://www.econbiz.de/10012479289
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Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem
Aghion, Philippe - 2009
The foundations of incomplete contracts have been questioned using or extending the subgame perfect implementation approach of Moore and Repullo (1988). We consider the robustness of subgame perfect implementation to the introduction of small amounts of asymmetric information. We show that...
Persistent link: https://www.econbiz.de/10012463482
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On Best-Response Bidding in GSP Auctions
Cary, Matthew - 2008
How should players bid in keyword auctions such as those used by Google, Yahoo! and MSN? We model ad auctions as a dynamic game of incomplete information, so we can study the convergence and robustness properties of various strategies. In particular, we consider best-response bidding strategies...
Persistent link: https://www.econbiz.de/10012464858