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Two-Part Access Pricing and Imperfect Competition
Valletti, Tommaso M. - 2003
This paper considers a vertically separated industry with an upstream monopolist who supplies an essential input to two downstream Cournot firms. This situation is relevant to a number of sectors, including the telecommunications industry where trunk operators must have access to the local...
Persistent link: https://www.econbiz.de/10014215832
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Two-Part Access Pricing and Imperfect Competition
Valletti, Tommaso M. - 1998
The problem of a monopolist firm that supplies an essential input to other firms that compete in the final downstream market is crucial in many utility industries that use a network. When downstream firms have different degrees of efficiency, then it could be feasible to charge them different...
Persistent link: https://www.econbiz.de/10014207368
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Trump, Regulation and Stock Returns
Kundu, Santanu - 2020
This paper provides causal evidence for the impact of changes in regulation on shareholder value. Using the 2016 US … economic mechanisms through which investors expected firms to benefit from de-regulation, I find that the positive effect on … shareholders' wealth is primarily driven by ex-ante high growth firms. Furthermore, in line with the public choice theory of …
Persistent link: https://www.econbiz.de/10012852655
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Whither the Regulatory 'War on Coal'? Scapegoats, Saviors, and Stock Market Reactions
Coglianese, Cary - 2020
Persistent link: https://www.econbiz.de/10012847402
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Market-based regulation and the informational content of prices
Bond, Philip (contributor); Goldstein, Itay (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003484202
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On the existence and prevention of asset price bubbles
Enders, Zeno; Hakenes, Hendrik - 2010
We develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of traders. In a bubble, the price of an asset rises dynamically above its steady-state value, justified by rational expectations about future price developments. The larger the...
Persistent link: https://www.econbiz.de/10008738294
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Three essays on macroeconomics and asset pricing
Bian, Jiangze - 2007
Persistent link: https://www.econbiz.de/10009691377
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Market stability vs. market resilience : regulatory policies experiments in an agent based model with low- and high-frequency trading
Jacob Leal, Sandrine; Napoletano, Mauro - 2016
We investigate the effects of different regulatory policies directed towards high-frequency trading (HFT) through an agent-based model of a limit order book able to generate flash crashes as the result of the interactions between low- and high-frequency (HF) traders. We analyze the impact of the...
Persistent link: https://www.econbiz.de/10011457384
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High-frequency trading in limit order markets : equilibrium impact and regulation
Rojček, Jakub; Ziegler, Alexandre - 2015
We investigate the impact of high-frequency trading (HFT) on market quality and investor welfare using a general limit order book model. We find that while the presence of HFT always improves market quality under symmetric information, under asymmetric information this is the case only if...
Persistent link: https://www.econbiz.de/10011412034
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Regulation, profit variability and beta
Binder, John J.; Norton, Seth W. - In: Journal of regulatory economics 15 (1999) 3, pp. 249-265
Persistent link: https://www.econbiz.de/10001424932