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Market power and information effects in a multi-unit auction
Hefti, Andreas; Shen, Peiyao; Betz, Regina Annette - 2019 - This version: March 2019
We study the effects of different information structures (full information, supply uncertainty and demand uncertainty) on equilibrium prices, allocative efficiency and bidding behavior in a (supply-side) uniform-price multi-unit auction, using supply function competition and a novel experimental...
Persistent link: https://www.econbiz.de/10011989994
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Insurance Monopoly and Imperfect Competition when Insurers Affect Risk
Avraham, Ronen; Gilo, David - 2022
We study insurers’ behavior under monopoly and Cournot duopoly when they canaffect the probability or magnitude of harm from accidents. The way consumers’risk aversion changes with wealth and the way risk affects the slope of the demandfunction determine whether Cournot duopolists increase...
Persistent link: https://www.econbiz.de/10013297973
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Why Common Ownership Creates Antitrust Risks
Azar, José - 2017
The share of stocks beneficially owned by institutional investors has increased substantially over the last three decades. Together with a high and increasing level of concentration in the asset management industry, this trend implies that a small number of institutional investors now constitute...
Persistent link: https://www.econbiz.de/10012953969
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Contested Places, Utility Pole Spaces : A Competition and Safety Framework for Analyzing Utility Pole Association Rules, Roles, and Risks
Sandoval, Catherine J.K - 2023
As climate change augurs longer wildfire seasons, safe, reliable, and competitive energy and communications markets depend on sound infrastructure and well-calibrated regulation. The humble wooden utility pole, first deployed in America in 1844 to extend telegraph service, forms the twenty-first...
Persistent link: https://www.econbiz.de/10014254996
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Dynamic Collusion, Vertical Competition, and Systematic Risk
She, Guoman; Wei, K.C. John; You, Haifeng - 2022
Building on dynamic collusion theories, we predict that firms with less concentrated upstream or downstream industries have lower systematic risk because their supply chain partners tend to compete more aggressively during recessions, absorbing more of the adverse effect of aggregate shocks....
Persistent link: https://www.econbiz.de/10014255362
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Oligopoly as a socially embedded dilemma : an experiment
Engel, Christoph; Zhurakhovska, Lilia - 2011
dampens cooperation, though only slightly. Surprisingly, externalities are immaterial. If we control for beliefs, they even … we add beliefs as a control variable, we only find that externalities enhance cooperation, even if gains from collusion … expected. -- Oligopoly ; Collusion ; experiment ; Uncertainty ; negative externalities ; prisoner's dilemma …
Persistent link: https://www.econbiz.de/10008822475
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Oligopoly as a Socially Embedded Dilemma : An Experiment
Engel, Christoph; Zhurakhovska, Lilia - 2011
dampens cooperation, though only slightly. Surprisingly, externalities are immaterial. If we control for beliefs, they even … we add beliefs as a control variable, we only find that externalities enhance cooperation, even if gains from collusion …
Persistent link: https://www.econbiz.de/10014186597
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Differentiating to Reduce Strategic Uncertainty and Relax Competition
Smyth, Andrew - 2022
This paper extends a canonical, game-theoretic framework to examine the relationship between product differentiation and relaxed competition. In its theory, firms compete over an infinite-horizon and discount the future so that relaxed competition is feasible in equilibrium. However, firms face...
Persistent link: https://www.econbiz.de/10014077162
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A pure variation of risk in first-price auctions
Kirchkamp, Oliver; Reiss, J. Philipp; Sadrieh, Abdolkarim - 2006
We introduce a new method of varying the risk that bidders face in first-price private value auctions. We find that decreasing bidders' risk significantly reduces the degree of overbidding relative to the risk-neutral Bayesian-Nash equilibrium prediction. This implies that risk affects bidding...
Persistent link: https://www.econbiz.de/10010263870
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A Procurement Auction Model Under Supplier Uncertainty
Gurnani, Haresh - 2015
As business-to-business commerce shifts to the Internet, newer suppliers with cheaper but unreliable technologies enter the market place to win orders from firms by beating the price of their perfectly reliable (but expensive) competitors. The dilemma facing purchasing firms is the allocation of...
Persistent link: https://www.econbiz.de/10012707538