Im Zuge der Deregulierung des Telekommunikations- und Energiesektors hat in Deutschland eine neue Art an Preisregulierung des Netzbereichs Einzug gehalten. Während das eigentliche Produkt beziehungsweise die eigentliche Serviceleistung in einem deregulierten Markt unter Wettbewerb angeboten...

The price system, the adjustment of prices to changes in market conditions, is the primary mechanism by which markets function and by which the three most basic questions get answered: what to produce, how much to produce and for whom to produce. To the behaviour of price and price system,...

The marketplace, along with its price system, is the single most important institution in a western‐style free enterprise economy. The ability of prices to adjust to changes in supply and demand conditions enables the market to function efficiently, and that ability lies behind the magical...

Analyses of a large retail scanner price data set reveal a new and surprising regularity – small price increases occur more frequently than small price decreases for price changes of up to 10¢. That is, we find asymmetric price adjustment “in the small.” Furthermore, it turns out that...

This paper addresses two central questions in markets with adverse selection: How does information impact the welfare of market participants (sellers and buyers)? Also, relatedly, what is the optimal information disclosure policy and how is it affected by the planner’s relative welfare weight...

With the advent of platform economies and the increasing availability of online price comparisons, many empirical markets now select on relative rather than absolute performance. This feature might give rise to the 'winner takes all/most' phenomenon, where tiny initial productivity differences...

This paper investigates the effects of Greece's European Union (EU) accession and European Economic and Monetary Union (EMU) entry, as well as R&D intensity and industry concentration on job creation and job destruction in the Greek manufacturing sector. The study is based on firm-level economic...