Landwirte wechseln oft nicht von ihrer Hausbank zu einer anderen Bank, auch wenn diese bessere Konditionen bietet. Diese „Wechselträgheit“ kann zum einen in den Transaktionskosten des Wechsels begründet sein. Zum anderen kann sie aber auch das Ergebnis begrenzt rationalen...

Scientific evidence clearly indicates that consumption of raw milk carries substantialdisease-inducing health risks. While federal U.S. policy mandates that milk moving in interstatecommerce be pasteurized; within 41 of 50 states, raw milk can be obtained for consumption.Warning labels...

We consider a quantity-setting duopoly market where firms lack perfect knowledge of the market demand function. They use estimated and therefore misspecified demand functions instead and determine their optimal strategies from the corresponding subjective payoff functions. The central issue of...

Past research in the field of information systems has explored factors and conditions that are relevant to decision-making in many contexts. However, very little is known about how executives consider, weigh, and integrate these factors. One current school of thought holds that intuition and...

In this paper, we show that a simple model of smoothly state-dependent pricing generates a distribution of price adjustments similar to that observed in microeconomic data, both for low and high inflation. Our setup is based on one fundamental assumption: price adjustment is more likely when it...

We study a retail benchmarking approach to determine access prices forinterconnected networks. Instead of considering fixed access charges asin the existing literature, we study access pricing rules that determinethe access price that network i pays to network j as a linear functionof the...

The U.S. Department of Justice, the European Commission, and the Organization for Economic Cooperation and Development have all recently voiced concern about international price- fixing cartels. The U.S. and European Union have increased prosecution of international cartels in the past decade,...

Long-term supply contracts often have ambiguous effects on the competitive structure, investment and consumer welfare in the long term. In a context of market building, these effects are likely to be worsened and thus even harder to assess. Since liberalization and especially since the release...

ENGLISH ABSTRACT: Delineating the relevant product and geographic market is an important first step in competition inquiries,as it permits an assessment of market power and substitutability. Critics often argue that market definitionis arbitrary and increasingly unnecessary, as modern...