This paper examines the effects of platform most-favored-customer (PMFC) clauses on incentives for platforms to invest in demand-enhancing investments that might involve spillover effects. In a bilateral duopoly model incorporating competition between sellers and between platforms, we show that...

We find that investment responds more sensitively to a firm's Tobin's q when its share price is more discrete. Low-price U.S. stocks exhibit higher investment-q sensitivity, but this pattern disappears in countries whose tick sizes increase with share prices. Using Tick Size Pilot Program as a...

The standard economic model of efficient competitive markets relies on the ability of sellers to charge prices that vary as their costs change. Yet, there is no restructured electricity market in which most retail customers can be charged realtime prices (RTP), prices that can change as...