Advances in technology and several regulatory initiatives have led to the emergence of a competitive but fragmented equity trading landscape in the US and Europe. While these changes have brought about several benefits like reduced transaction costs, regulators and market participants have also...

This paper studies competition in the German market for mobile telecommunications, motivated by recent suggestions that T-Mobile and Vodafone possess a position of collective dominance. Allegedly, their position of joint dominance is secured through a combination of first-mover advantages and...

Abstract In markets with competing interconnected networks like mobile telecommunication markets investments affect the investor’s and also any competitors’ profits. In a theoretical model it is shown that cost-reducing investments reduce the investor’s termination rates and increase...