Showing 1 - 10 of 3,550
We study the impact of the liberalization of EU natural gas markets on the balance of power between `local champions', customers, and outside producers. We distinguish between two steps of the reform: 1. opening access to transit pipes and 2. opening access to distribution systems, hence...
Persistent link: https://www.econbiz.de/10010486635
We explore Lithuanian credit register data and two bank closures to provide a novel estimate of firms' bank-switching costs and a novel identification of the hold-up problem. We show that when a distressed bank's closure forced firms to switch, these firms started borrowing at lower interest...
Persistent link: https://www.econbiz.de/10012544446
The users of electricity networks are organized into groups where the production and consumption of electricity is in balance. This paper studies the formation of these balancing groups using a cooperative game in partition function form defined over an ideal (lossless) DC load flow model of the...
Persistent link: https://www.econbiz.de/10013081645
In this contribution, at first, we introduce a basic network framework to study pyramidal structures and wedges between ownership and control of companies. Then, we apply it to a dataset of 53.5 million of companies operating in 208 countries. Among others, we detect a strong concentration of...
Persistent link: https://www.econbiz.de/10012901128
We introduce a model in which firms trade goods via bilateral contracts which specify a buyer, a seller, and the terms of the exchange. This setting subsumes (many-to-many) matching with contracts, as well as supply chain matching. When firms' relationships do not exhibit a supply chain...
Persistent link: https://www.econbiz.de/10013146534
Why do lawyers in some jurisdictions continue to ‘automatically’ exclude the 1980 UN Convention on Contracts for the International Sale of Goods (CISG) in their choices of law for international sales contracts? Why do lawyers in other jurisdictions approach the decision very differently? Why...
Persistent link: https://www.econbiz.de/10014192105
, 261-281) and Malawski (2002, Int J Game Theory 31:47-67). In particular, we show that the collusion properties employed by … them are equivalent. Combined with the dummy player axiom, any of the collusion properties has strong symmetry implications …-redundantly characterized by the dummy player axiom and any of the collusion properties, provided that the player set is as above. -- Banzhaf …
Persistent link: https://www.econbiz.de/10009311608
This paper generalizes the classical duopoly collusion model by first deriving a new marginal cost curve. It then … have higher incentive to collude. It also distinguishes free collusion from centralized collusion, competition from …
Persistent link: https://www.econbiz.de/10013116256
In this paper we review a number of coalitional solution concepts for the analysis of the stability of cartels and mergers under oligopoly. We show that, although so far the industrial organization and the cooperative game-theoretic literature have proceeded somehow independently on this topic,...
Persistent link: https://www.econbiz.de/10012857367
The collusion incentive constraint is an important economic measure of cartel stability. It weighs the profits of being …
Persistent link: https://www.econbiz.de/10013046110