We discuss the strategic behavior of agents on a financial market in the presence of a central bank which is borrowing and lending money.

It is well known that the Internet has significantly reduced consumers'search costs online. But relatively little is known about how searchcosts affect consumer demand structure in online markets. In this paper,we identify the impact of search costs on firm competition and marketstructure by...

Information systems and the Internet have facilitated the creation of used product markets that feature a dramatically wider selection, lower search costs, and lower prices than their brick-andmortar counterparts do. The increased viability of these used product markets has caused concern among...

Electricity markets in the United States presently employ an auction mechanism to determine the dispatch of power generation units. In this market design, generators submit bid prices to a regulation agency for review, and the regulator conducts an auction selection in such a way that satisfies...

In this paper, we study the local dial-up Internet access market using a game theoretic model. Inparticular, we consider the Nash equilibrium of the service providers and examine their behavioron investment and output level. We calibrate this model to fit the industry structure and datafound in...

This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...

Peter Drucker lectures about the knowledge worker. During his talk, he discusses: supply as the center of today’s corporation, the change in structure and character of the workforce, the main function of a job, work as portable and specialized, the importance of making oneself understood and...

For at least 15 years Members of Congress have continued to ask: How many U.S. manufacturing plants have closed? For at least 15 years they have continued to ask: How many U.S. manufacturing plants have relocated abroad, and where have they gone? For at least 15 years the answer has been: For...

Online advertisements are increasingly becoming an attractive channel for advertising. Pricing for online ads has evolved over time, and different auction-based policies are employed by website publishers to sell online ads. In this paper, we analyze, under different scenarios, the following...