with the results of an empirical analysis of price response to changes in cost. We find that firms without adjacent … competition exhibit both upward and downward price rigidity, an outcome we ascribe to asymmetric information between the consumer … and the firm. Given that previous studies have focused on downward price rigidities of firms with market power, our …

. Entry costs faced by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price …

. Entry costs faced by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price …

by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price competition are all …

by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price competition are all …

in their capacity and fix the retail price while electricity demand is uncertain. A unit price auction determines the … wholesale electricity price when the firms compete. They know the level of demand when they bid their capacities. Total … equilibrium, then the retail price is always higher and the social welfare lower in the competitive case, which exists only if …

in their capacity and fix the retail price while electricity demand is uncertain. A unit price auction determines the … wholesale electricity price when the firms compete. They know the level of demand when they bid their capacities. Total … equilibrium, then the retail price is always higher and the social welfare lower in the competitive case, which exists only if …