Building on dynamic collusion theories, we predict that firms with less concentrated upstream or downstream industries have lower systematic risk because their supply chain partners tend to compete more aggressively during recessions, absorbing more of the adverse effect of aggregate shocks....

This paper studies how competition and vertical structure jointly determine generating capacities, retail prices, and welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices before they buy electricity in the wholesale...

Der Luftverkehrssektor stellt eine grundlegende Infrastruktur moderner Volkswirtschaften bereit. Mit der Liberalisierung der internationalen Luftverkehrsmärkte und der Privatisierung von Verkehrsflughäfen besteht die Notwendigkeit, den staatlichen Ordnungsrahmen an diese veränderten...