Accurate assessments of bank deposit market power are essential for antitrust and monetary policy. Regulators and researchers have traditionally measured market power assuming all consumers consider every bank operating in a given geographic region. However, these measures are generally biased...

Rankings have become increasingly popular on various markets, e.g. the market for study programs. We analyze their welfare implications. Consumers have to choose between two goods of unknown quality with exogenous presence or absence of an unbiased informative ranking. The existence of the...

This paper compares alternative liability rules for allocating losses from defective products when consumers under- estimate these losses and producers may have some market power. If producers do not have any market power, the rule of strict liability .leads to both the first-best accident...

We analyze how consumer preferences for one-stop shopping a¤ect the (Nash) bargaining relationships between a retailer and its suppliers. One-stop shopping preferences create demand complementarities among otherwise independent products which lead to two opposing effects on upstream merger...