I study the incentives of oligopolists to acquire and disclose information on a common demand intercept. Since firms may fail to acquire information even when they invest in information acquisition, firms can credibly conceal unfavorable news while disclosing favorable news. Firms may earn...

We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...

In this paper, we study an imperfect monitoring model of duopoly under similar settings as in Green and Porter (1984), but here firms do not know the demand parameters and learn about them over time through the price signals. We investigate how a deviation from rational expectations affects the...

Individual contributions by infringing firms to the compensation of cartel victims must reflect their “relative responsibility for the harm caused” according to EU legislation. Several studies have argued that the theoretically best way to operationalize this norm is to apply the Shapley...

In this paper, we introduce a new approach to measure the dissatisfaction for coalitions of players in cooperative transferable utility games. This is done by considering affine (and convex) combinations of the classical excess and the proportional excess. Based on this so-called alpha-excess,...

We examine tippy network markets that accommodate price discrimination. The analysis shows that when a mild equilibrium refinement, the monotonicity criterion, is adopted, network competition may have a unique subgame-perfect equilibrium regarding the winner's identity; the prevailing brand may...

Standard models of collusion require that all firms are forward-looking and strategic. When one firm displays naive behavior—i.e., when it is myopic, memoryless, or non-strategic—typical collusive strategies cannot be supported in equilibrium. Motivated by the increasing adoption of...

In systems industries, combinations of components are consumed together to generate user benefits. Arrangements among component providers sometimes limit consumers’ ability to mix and match components, and such exclusive arrangements have been highly controversial. We examine the competitive...