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In this paper we develop an analytical model that characterizes the structure of price dispersion observed in electronic markets. Findings of our model are consistent with empirical evidence in these e-markets. We show that when different types of buyers' have different search costs, firms...
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World War I was fought by numerous countries siding together as the Central Powers and, respectively, the Allied Powers. The former established around the German Empire and Austria-Hungary and grew to four allies when the Ottoman Empire in late 1914 and Bulgaria in late 1915 entered the scene;...
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With its America First strategy, the former US administration turned away from an internationally oriented trade policy … conducted: Almost all US industries were negatively affected by the US trade policy. This effect can be seen in the forward … companies. As few firms profit in this situation, the rationale for a restrictive trade policy cannot be based in economic gains …
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