Hirschman's Exit, Voice, and Loyalty highlights the role of “voice” in disciplining firms for low quality. We develop a formal model of voice as a relational contact between firms and consumers and show that voice is more likely to emerge in concentrated markets. We test this model using...

This paper examines why referees for academic journals and grant applications are often not paid for their work. We postulate that referees are motivated by a non-monetary concern for journal quality and also by monetary considerations. Increasing pay is, therefore, a means of encouraging...

This paper demonstrates that low (below marginal cost) interconnect or access charges can be used to sustain high subscription prices in an environment of network competition with two-part tariffs and price discrimination. This result stands in contrast to other results in the literature...

This paper examines the pricing of mobile applications when application providers can either supply consumers directly or through a mobile platform (such as a smart phone or tablet). It is demonstrated that when platform access (i.e., purchasing a device) takes place in advance of application...

This paper examines the claim that dynamic considerations play a particularly important role in certain industries (in particular, those characterized by high rates of product innovation) and, consequently, render antitrust analysis based on static concepts inappropriate or misleading. By...

This paper provides a theoretical investigation of the tension over knowledge disclosure between firms and their scientific employees. While empirical research suggests that scientists exhibit a “taste for science,” such open disclosures can limit a firm’s competitive advantage or ability...

This paper derives a model of vertical integration when it is difficult to write binding long-term supply price contracts. Thus, a vertically separated monopolist is vulnerable to hold-up. Without integration, we demonstrate that a bottleneck monopolist has an incentive to encourage more firms...

We employ several different approaches to estimate the political position of Australian media outlets, relative to federal parliamentarians. First, we use parliamentary mentions to code over 100 public intellectuals on a left-right scale. We then estimate slant by using the number of mentions...

This paper considers the effect of exclusive contracts on investment decisions in a market with two upstream and two downstream firms. Segal and Whinston’s (2000) irrelevance result is generalized and it is shown that exclusive contracts have no effect on the equilibrium level of internal...

This paper is the first to provide a general context whereby potential entry can lead incumbent firms to permanently reduce the intensity of competition in a market. All previous results found that potential entry would lead to lower prices and greater competition. Examining markets where entry...