Two conflicting predictions have emerged regarding the effect of low-cost information on price. The first states that all Internet retailers will charge the same low price for mass produced goods. The second states that Internet retailers will differentiate to avoid intense price competition....

Consumer cooperatives constitute a highly successful example of democratic forms of enterprises operating in developed countries. They are usually organized as medium and large-scale firms competing with pro fit-maximizing firms in retail industries. This paper models such situation as a mixed...

We uniquely examine the relationship between firm-sponsored training and product quality competition. Using an oligopolistic model of both price and quality competition, we show that an increase in the sensitivity of demand to product quality will strengthen firms’ incentives to train their...