During the last decade, Latin American countries have brought about important reforms in infrastructure services based both on private sector participation for enhancing internal efficiency and competition for increasing consumer welfare. Infrastructure services have evolved from monopoly and...

La competencia en el sector de gas de Colombia es muy baja. Ello se debe a la conjunción de tres factores: una regulación sectorial intervencionista, leyes de competencia confusas y una alta concentración de la propiedad. El objetivo de este documento es investigar y analizar estos aspectos...

During the last decade, Latin American countries have brought about important reforms in infrastructure services based both on private sector participation for enhancing internal efficiency and competition for increasing consumer welfare. Infrastructure services have evolved from monopoly and...

La competencia en el sector de gas de Colombia es muy baja. Ello se debe a la conjunción de tres factores: una regulación sectorial intervencionista, leyes de competencia confusas y una alta concentración de la propiedad. El objetivo de este documento es investigar y analizar estos aspectos...

We revisit the effects of switching costs on dynamic competition. We consider stationary Markovian strategies, with market shares being the state variable, and characterize a relatively simple Markov Perfect pricing equilibrium at which there is switching by some consumers at all times. For the...

We develop a continuous-time dynamic model with switching costs. In a relatively simple Markov Perfect equilibrium, the dominant firm concedes market share by charging higher prices than the smaller firm. In the short-run, switching costs might have two types of anti-competitive effects: first,...