Economic analysis of competition regulation is most developed in the domain of horizontal mergers, and modern agency guidelines reflect a substantial consensus on the appropriate template for merger assessment. Nevertheless, official protocols are understood to rest on a problematic market...

This paper studies how cross-sector strategic trade policy affects wages, country-wide profits, and welfare. I develop a simple model of two-country continuum-of-sectors general oligopolistic equilibrium. Demands are linear and sectors involve one domestic firm competing on quantity with its...

This paper models a generalized form of monopolistic competition such that consumers are differentiated horizontally by taste while firms are differentiated vertically by quality location. Consumers have quadratic transportation costs of disutility from consuming a non-ideal brand, and firms are...

This paper proposes a general equilibrium model with heterogenous firms that endogenously choose among various product markets/niches. I study implications of both autarky and international trade between countries. In equilibrium, larger niches feature lower values of the local price index....

Real-world industries are composed from heterogeneous firms and substantial intra-industry reallocations take place, i.e. high productivity firms squeeze out low productivity firms. Previous tax-tool comparisons have not included these central forces of industry structure. This paper examines a...

In this paper we consider a reinsurance syndicate, assuming that Pareto optimal allocations exist. Under a continuity assumption on preferences, we show that a competitive equilibrium exists and is unique. Our conditions allow for risks that are not bounded, and we show that the most standard...