Sales are a widespread and well-known phenomenon documented in several product markets. This paper presents a novel rationale for sales that does not rely on consumer heterogeneity, or on any form of randomness to explain such periodic price fluctuations. The analysis is carried out in the...

The paper offers an overview of the literature on bundling in the telecommunications sector and its application in the Spanish market. We argue that the use of bundling in the provision of services is associated to technological reasons. Therefore, there appears no need to regulate bundling...

The transformation of world?s main stock markets into enterprises acting in a competitive environment is in progress and its consequences are not all known. Three strategies are competing with each other: vertical integration of exchange and CSD; horizontal growth of the market share to an...

This paper analyzes tying and bundling as an entry deterrence tool. It shows that a multi-product firm can defend its monopoly position in one market via tying even when it does not have market power in another market. This is shown on a model with two complementary goods, each of which is...

This paper investigates the exercise of market power by a large buyer who emerges via growth, merger, or group purchasing. It explores the efficiency and redistributive effects of such an event when a competitive fringe of small buyers remains in the market. Terms of trade, including those for...

A bidding ring is a collection of bidders who collude in an auction in order to gain greater surplus by depressing competition. This entry describes some typical bidding rings and provides an introduction to the related theoretical and empirical literature.