Firms tend to compete more aggressively in financial distress; the intensified competition in turn reduces profit … effects, we incorporate strategic competition into a dynamic model with long-term defaultable debt, which generates various …

trends, markup trends, and the effects of mergers does not actually show a widespread decline in competition. Nor does it … observed changes in many industries are likely to reflect competition in action. We highlight research that points to targeted … interventions that can enable antitrust enforcement policy to better promote and protect competition. Throughout the paper, we …

New Keynesian models of price setting under monopolistic competition involve two kinds of inefficiency: the price level …; this is equivalent to modeling firms as an implicit cartel playing a punishment game. We show that coordination can … asymmetric. Implications for the welfare cost of fluctuations also differ from the standard monopolistic competition case …

century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines …. The cartel makes the decision whether or not to begin a price war against the entrant; some entrants are formally admitted … to the cartel without any conflict. I use characteristics of the entrant to predict whether or not the entrant will …

from, individual markets. We show that this gives rise to a new mechanism by which a cartel can sustain a collusive … more likely to hold than its intensive margin counterpart. Specifically, it is demonstrated that Where duopoly competition … oligopolistic competition with a collusive fringe, and predatory entry. We also provide a theoretic foundation for the use of a …

This paper studies how market competition influences the algorithmic design choices of firms in the context of … to maximize estimated profit. We show that competition may induce firms to strategically choose simpler algorithms which …