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Digital advertising, which uses consumer data to target ads to users, now accounts for most of global ad expenditures. Privacy concerns have prompted regulations that restrict the use of personal data. To inform these policy debates, we develop an equilibrium model of advertising and market...
Persistent link: https://www.econbiz.de/10014635689
Purpose: The purpose of this paper is to explore new banks ' market niche position choices at the time of founding … ample opportunities for new bank start-ups. Findings: New banks were found to enter more often in specialist market niches … specialist banks in the market increased. Originality/value: The findings confirm the idea that elements of market structure …
Persistent link: https://www.econbiz.de/10009788416
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In this paper we present a general approach and methodology for modelling concentration dynamics on industrial level. The majority of research in this field has usually been focused on estimating adjustment models, where the speed of adjustment of actual level of concentration to the long-run...
Persistent link: https://www.econbiz.de/10010322172
In August 2012, the New York Stock Exchange launched the Retail Liquidity Program (RLP), a trading facility that enables participating organizations to quote dark limit orders executable only by retail traders. A Hasbrouck (1991) structural vector autoregression shows that the facility increased...
Persistent link: https://www.econbiz.de/10011456111
The U.S. credit card market is highly concentrated and highly profitable, two facts which have drawn scrutiny of its competitive practices. I study competition in this market by analyzing how lenders target and acquire new customers using direct-mail, their principal acquisition channel. I find...
Persistent link: https://www.econbiz.de/10013289116
The welfare cost of imperfect competition in the product and labor market as well as distortionary taxation is quantified in a dynamic general equilibrium model parameterized to fit the U.S. economy. We find that the welfare cost of imperfect competition in the product market is 35.74 percent...
Persistent link: https://www.econbiz.de/10011583610
Since Telser (1960), there is a well-established argument that a competitive market will not provide service due to free-riding. We show that with search frictions, the market may well provide service if the cost of doing so is not too large. Any market equilibrium with service provision has two...
Persistent link: https://www.econbiz.de/10011942341
This article addresses developments in the literature on The Rise of Market Power. First, it summarizes research about the result of De Loecker 2020 that the sales-weighted average markup has increased in the United States. Second, it summarizes and evaluates a set of industry studies that...
Persistent link: https://www.econbiz.de/10014576656