In a market where sellers are endowed with heterogeneous qualities of the same good and are more informed than buyers, high quality sellers' chances to trade might depend on their ability to inform buyers about the quality of the goods they offer. We study under what conditions and to what...

This paper derives necessary and sufficient conditions for the existence and occurrence likelihood of competitive equilibria in urban land and housing markets: (i) when there is imperfect information causing costly search trips and (ii) when land and housing are differentiated according to...

This paper investigates the strategies of a data broker in selling information to one or to two competing firms that can price-discriminate consumers. The data broker can strategically choose any segment of the consumer demand (information structure) to sell to firms that implement third-degree...

The nature, and normative properties, of competition in health care markets has long been the subject of much debate. In this paper we consider what the optimal benchmark is in the presence of moral hazard effects on consumption due to health insurance. Intuitively, it seems that imperfect...

In the computing industry, computing systems typically consist of multiple components supplied by independent firms. An important feature of this industry is coopetition. In other words, firms must cooperate with each other in making a system work, but at the same time compete for dividing the...

In markets where duopolists supply differentiated products with certain degree of complementarity, not only can each consumer choose to buy one unit from a particular seller (single-purchase), the consumer may also choose to buy from different sellers simultaneously (multi-purchase) for brand...

This informal paper explores models of competitive insurance market equilibrium when individuals of initially similar apparent risk experience divergence in risk levels over time. The information structure is modeled in three alternative ways: all insurers and insureds know risk at any point in...

In this essay, I examine the connection between pricing, profit mark ups, competition, and economic activity from a heterodox perspective. These issues are examined utilizing a two-industry Burchardt-Kaleckian production model and a labor-based mark up pricing model; the conclusion reached is...

While Pakistan has taken several steps to promote competition in its markets, further reforms are required in improving domestic commerce, agricultural markets and industries. With increasing risks and cost of doing business due to deteriorating law and order situation as well as massive energy...

We examine experimentally how link costs affect the formation of links between a single seller and two potential buyers as well as the ensuing bargaining. Theory predicts that link costs lead to less competitive networks, with one link rather than two links, and that link costs do not affect the...