In this paper, we study the relationship between reconciliations in the Colombian electricity market and the bid prices by firms on the spot market. In this work,we propose a model of behavior of the firm to elaborate theoretical predictions about the relationship between the reconciliations and...

We present a two-firm model of predation under complete information, based on different discount factors, and integrate it with a model of collusion. Competition, collusion and predation are seen as alternative strategies. The basic conclusions are that t

Este trabajo presenta un modelo de depredación bajo condiciones de información completa y lo integra con un modelo de colusión. La competencia, la colusión y la depredación son estrategias alternativas de las dos empresas que se incluyen en el modelo. Las conclusiones básicas son que hay...

In this paper, we study the relationship between reconciliations in the Colombian electricity market and the bid prices by firms on the spot market. In this work,we propose a model of behavior of the firm to elaborate theoretical predictions about the relationship between the reconciliations and...

Spanish Abstract: Este artículo modela los posibles efectos que sobre el precio de un mercado de un bien homogéneo se puede producir ante una integración empresarial. El análisis se realizará a partir de dos escenarios, (i) considerando tecnologías similares entre firmas y (ii) con algún...

This paper evaluates the main measures that have been used to regulate the interconnection prices in the telecommunication sector. We show that many of the regulations that are applying the vast majority of countries have very little theoretical support, and we identify the restrictions that...

Este trabajo analiza los efectos de la imposición directa e indirecta sobre el bienestar social, en un modelo de entrada en el que las empresas practican discriminación espacial de precios. Se muestra que en un oligopolio la imposición directa puede afectar positiva o negativamente al...

The dynamics of oil prices in the past few years and their vertiginous rise observed during 2008 have captured the attention of academia and governments. This paper proposes an analysis of the petroleum market, making emphasis in the crude benchmarks WTI and Brent, the world reserves...

This paper presents a model of market power analysis in a context of symmetric product differentiation. Each variety possesses a homogeneous and a heterogeneous component, that consumers value separately. According to the way in which firms exercise their influence on prices, four behavioral...

The potentially anticompetitive nature of some practices driven by professional organizations has been approached in economic literature and appears as an important issue in the antitrust organism’s agenda. However, empirical economics lacks of a self-regulated professionals analysis. This...