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Steg, Jan-Henrik - 2009

We offer a new perspective on games of irreversible investment under uncertainty in continuous time. The basis is a particular approach to solve the involved stochastic optimal control problems which allows to establish existence and uniqueness of an oligopolistic open loop equilibrium in a very...

Persistent link: https://www.econbiz.de/10009452557

The Law of One Price? The Impact of IT-Enabled Markets on Consumer Search and Retailer Pricing

Smith, Michael D. - 2001

Recent IT research has analyzed how the performance of IT-enabled markets may differ from conventional markets. This literature has made two unexpected empirical findings. First, ITenabled markets for commodity goods exhibit significant price dispersion. Second, well-known retailers in these...

Persistent link: https://www.econbiz.de/10009441013

Breaking up is Hard to Do: Determinants of Cartel Duration

Levenstein, Margaret C. - 2010

We estimate the impact of cartel organizational features, as well as macroeconomic fluctuations and industry structure, on cartel duration using a dataset of contemporary international cartels. We estimate a proportional hazards model with competing risks, distinguishing factors which increase...

Persistent link: https://www.econbiz.de/10009476912

Low-Wage Labor Markets and the Power of Suggestion

Shelkova, Natalya Y. - 2008

is dismissed. However, such behavior is not impossible. This paper investigates the possibility of tacit collusion by low … non-binding minimum wage may serve as a focal point for tacit collusion, proposing a symmetric solution to an infinitely … collusion. CPS monthly data is used for the years 1990-2005, covering the last four federal minimum wage increases. The …

Persistent link: https://www.econbiz.de/10009430180