We show that in many applied economic models, it is possible to reduce the dimensionality of the space of actions to what we call sufficient decisions. We find that for monopoly and oligopoly in multi-sided markets and multi-product markets, the market equilibrium can be transformed into an...

This article extends antitrust analysis to two-sided markets in which a virtual monopolist competes with local bricks-and-mortar dealers. The discussion examines the market power of an Internet market maker as well as an Internet matchmaker. The analysis shows that equilibrium in a two-sided...

We analyze and summarize the microeconomic theory of pass-through rates. We start by analyzing a monopolist firm in a standard Micro 101 frictionless market, then add more nuances to the model, including, but not limited to oligopolistic competition, menu costs, price points, endogenous quality...