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Informational Externalities, Strategic Delay, and the Search for Optimal Policy
Doyle, Matthew - Department of Economics, Iowa State University - 2002
This paper examines optimal policy when agents, private investors and a government, can learn about the economy by observing others. Investors can delay investment in order to exploit future information. Importantly, investors ignore the informational value of their actions to others when...
Persistent link: https://www.econbiz.de/10005433125
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Product differentiation and oligopoly : a network approach
Pellegrino, Bruno - 2023
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system...
Persistent link: https://www.econbiz.de/10013503368
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Ordinal Approach to Characterizing Efficient Allocations, An
Hennessy, David A.; Lapan, Harvey E. - Department of Economics, Iowa State University - 2002
The invisible hand theorem relates nothing about the attributes of the optimal allocation vector. In this paper, we identify a convex cone of functions such that order on vectors of exogenous heterogeneity parameters induces component-wise order on allocation vectors for firms in an efficient...
Persistent link: https://www.econbiz.de/10005437360
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Product Differentiation and Oligopoly: A Network Approach
Pellegrino, Bruno - 2023
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system...
Persistent link: https://www.econbiz.de/10014290154
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Antitrust’s Increasingly Long Arm : (Minority) Private Equity Investors Beware
Tzanaki, Anna - 2022
Where do competition, antitrust and private equity intersect? Once antitrust’s favored child compared to strategic buyers, private equity seems to have fallen from competition enforcers’ grace. Interestingly, this is part of a broader trend: financial investors in general, from BlackRock to...
Persistent link: https://www.econbiz.de/10014238608
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Product Differentiation and Oligopoly : A Network Approach
Pellegrino, Bruno - 2023
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system...
Persistent link: https://www.econbiz.de/10014262031
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Symmetries of Imperfect Competition on a Circle
Hennessy, David A.; Lapan, Harvey E. - Iowa State University of Science and Technology <Ames, … - 2006
Taking location as given, we study imperfect competition on a circular city. In Bertrandoligopoly, we identify price harmonics as a function of firm unit costs and locations. The sumof oligopoly profits is larger when costs and/or locations are more dispersed in the ‘dihedralmajorization’...
Persistent link: https://www.econbiz.de/10009360866
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Algebraic Theory of Pareto Efficient Exchange
Hennessy, David A.; Lapan, Harvey E. - Iowa State University of Science and Technology <Ames, … - 2002
We study trade patterns in a pure exchange economy where preferences are symmetric up to taste intensity parameters. In a 2-person, 2-good endowment economy, then all endowments in a particular Edgeworth box rectangle require trading out of that rectangle. Under strictly quasi-concave...
Persistent link: https://www.econbiz.de/10009418955
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Testing for Symmetry and Conditional symmetry Using Asymmetric Kernels
Fernandes, Marcelo; Mendes, Eduardo F.; Scaillet, Olivier - National Centre of Competence in Research - Financial … - 2011
We derive nonparametric tests of symmetry using asymmetric kernels with either shrinkingor fixed bandwidths. We show … how to extend the approach to examine conditional symmetry byderiving conditions under which our tests are applicable to … perform well even in very small samples, entailing better size andpower properties than some of the existing symmetry tests.[...] …
Persistent link: https://www.econbiz.de/10009419009
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Win-Win Partnerships in Sourcing:Empirical Evidence from Germany
Reiß, Michael; Präuer, Arndt - Betriebswirtschaftliches Institut <Stuttgart> - 2002
-win partnerships are examined on thebasis of the three structural dimensions interdependence, integration and symmetry.[...] …
Persistent link: https://www.econbiz.de/10005868443