Dynamic pricing is often complicated by strategic customer behavior. One tactic utilized by retailers to counter strategic customer behavior is to adjust prices in an unpredictable manner. This phenomenon has been studied in the Markovian pricing literature in single-retailer settings. In this...

We study the bond price reaction of a merged firms peers, in order to better understand how the market responds to a restructuring. We argue that a merger announcement may signal the possibility of a merger wave to the industry, and in doing so, increase the conditional probability that peer...

This study shows that mergers’ price effects can vary seasonally. I document countercyclical price increases due to the Coors and Miller merger, which is consistent with models of coordinated pricing that predict lower equilibrium prices during high-demand states