We develop an economic model of autonomous vehicle (AV) ride-hailing markets in which uncertain aggregate demand is served with a combination of a fixed fleet of AVs and an unlimited potential supply of human drivers (HVs). We analyze market outcomes under two dispatch platform structures...

In economies with incomplete information, laissez-faire price competition is not, in general, constrained Pareto efficient. But which market structures are? We consider an environment in which firms have private information about costs and consumers make discrete choices over goods. Surveying an...

In this paper, we use a novel data set containing prices from bazaars, convenience stores, and supermarkets in Istanbul to re-examine the relationship between price dispersion and inflation. Although existing evidence is mixed, we find positive and significant relationships between dispersion,...

In this paper, unlike the conventional wisdom, we demonstrate that the relationship between the size of the market and number of firms would be non-monotonic. While moderate rise in the size would force the local firms to exit and only the foreign firm rules, substantial rise in the size would...

This paper deals with the economics of secondary markets for government bonds.Ultimately, the analysis is shaped by a public policy goal: assessing the elements ofa regulatory framework for these markets. In that regard, the decisive role of marketstructure leads to a critical review of...

This paper is based on the model of backward linkages from foreign direct investment (FDI) Lin/Saggi (2003), where the market structure of the final goods sector is represented by a monopoly or Cournot oligopoly, and the supplier sector - by a pure monopoly. We extend this model by examining...

This study examines firm behaviour when consumers can costlessly select a default product, or incur a decision cost to find their personal optimum. Monopolists can be efficient in some contexts, because they have an incentive to reduce decision costs in order to increase available surplus. They...

This article examines the daily strategizing of buyers, taking the dyad to be the elementary unit of analysis in market dynamics. The ideas are revisited that dyadic market relationships converge towards loyalty (Kirman and Vriend), and that markets tend towards social or institutional...

This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that firms operate in monopolistically competitive markets, where...

Different markets are cleared by different types of prices - seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. We examine a setting in which buyers and sellers make investments before matching in a competitive market....