We develop a dynamic entry model of multi-store oligopoly with heterogeneous markets, and estimate it using data on hamburger chains in Canada (1970–2005). Because more lucrative markets attract more entry, firms appear to favor the pres- ence of more rivals. Thus unobserved heterogeneity...

This study contributes to the conceptual and empirical studies by investigating the relation between the electricity generated from renewables, carbon dioxide (CO2) emission, exchange rate and unemployment on Egyptian economic growth (EEC). Developing countries are in pursuit of economic growth...

This paper formalizes an empirically implementable framework for the definition of local antitrust markets in retail markets. This framework rests on a demand model that captures the trade-off between distance and pecuniary cost across alternative shopping destinations within local markets. The...

We analyze the behavior of electricity generation groups that make investment and production decisions in a liberalized market scenario by introducing long-term contracts, in a context where there is a high level of market concentration. In this way, a dynamic deterministic model of imperfect...

Discrete-time stochastic games with a finite number of states have been widely applied to study the strategic interactions among forward-looking players in dynamic environments. These games suffer from a “curse of dimensionality” when the cost of computing players’ expectations over all...

Static and dynamic games are important tools for the analysis of strategic interactions among economic agents and have found many applications in economics. In many games, equilibria can be described as solutions of polynomial equations. In this paper, we describe state-of-the-art techniques for...