Narrow search
Showing 1 - 10 of 610,789
Cover Image
Monopoly Without a Monopolist : An Economic Analysis of the Bitcoin Payment System
Huberman, Gur - 2017
Owned by nobody and controlled by an almost immutable protocol the Bitcoin payment system is a platform with two main constituencies: users and profit seeking miners who maintain the system's infrastructure. The paper seeks to understand the economics of the system: How does the system raise...
Persistent link: https://www.econbiz.de/10012948371
Cover Image
Product differentiation and oligopoly : a network approach
Pellegrino, Bruno - 2023
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in …
Persistent link: https://www.econbiz.de/10013503368
Cover Image
Product Differentiation and Oligopoly : A Network Approach
Pellegrino, Bruno - 2023
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in …
Persistent link: https://www.econbiz.de/10014262031
Cover Image
Levelling the global playing field through optimal non-discriminatory corporate taxes and subsidies
Nocco, Antonella; Ottaviano, Gianmarco I. P.; Salto, Matteo - 2024
Due to markup distortions, in international trade models with monopolistic competition and heterogeneous firms the …
Persistent link: https://www.econbiz.de/10014515012
Cover Image
Effects of qualification in expert markets with price competition and endogenous verifiability
Schneider, Tim; Bizer, Kilian - 2017
We investigate a market in which experts have a moral hazard problem because they need to invest in costly but unobservable effort to identify consumer problems. Experts have either high or low qualification and can invest either high or low effort in their diagnosis. High skilled experts are...
Persistent link: https://www.econbiz.de/10011687778
Cover Image
Competition, Innovation and Increasing Returns
Richardson, George B. - 1998
This paper concerns the operation of competition in the presence of a high rate of innovation and increasing returns …. Given free competition there is likely to exist, in this case, a tendency towards what may be called "dynamic equilibrium … this investment yields only a normal return. Thus, competition, increasing returns and innovation may co-exist …
Persistent link: https://www.econbiz.de/10014072727
Cover Image
The Dark Side of Competitive Pressure
Cummins, Jason G.; Nyman, Ingmar - 2003
One of the most basic principles in economics is that competitive pressure promotes efficiency. However, this pressure can also have a dark side because it makes firms reluctant to act on private information that is unpopular with consumers. As a result, firms that possess superior information...
Persistent link: https://www.econbiz.de/10014106505
Cover Image
Consumer myopia, competition and the incentives to unshroud add-on information
Wenzel, Tobias - 2013
This paper studies unshrouding decisions in a framework similar to Gabaix and Laibson (2006), but considers an alternative unshrouding mechanism where the impact of advertising add-on information depends on the number of unshrouding firms. We show that shrouding becomes less prevalent as the...
Persistent link: https://www.econbiz.de/10010223577
Cover Image
The Utility Competition, Price Competition and Quantity Competition
Chen, Linfeng - 2019
We propose a framework of utility competition (UC), and we provide the intuition why price competition (PC), quantity … competition (QC) and UC differ, and prove it by using a nonlinear demand system. If the network externality is positive, then PC …
Persistent link: https://www.econbiz.de/10012894283
Cover Image
Price Dispersion, Competition, and Efficiency : Evidence from Chicago Based Routes
Kutlu, Levent - 2017
In this study we analyze the determinants of airline price dispersion. We particularly concentrate on the conduct and marginal cost efficiency. The effect of conduct on price dispersion seems to depend on the characteristics of the market. For the big city routes, we observe positive effect; and...
Persistent link: https://www.econbiz.de/10012971687