In order to analyse the role of competition in the post-trade markets a normative network economic analysis of securities business is provided. The theory of monopolistic bottlenecks constitutes the theoretical reference point for this analysis in order to identify stable network specific market...

Der Aufsatz ist wie folgt aufgebaut. In Abschnitt 2 wird zunächst die Theorie der angreifbaren Märkte kurz skizziert. Es folgt in Abschnitt 3 eine kurze Darstellung der Theorie der monopolistischen Bottlenecks und deren Zusammenhang mit dem Konzept der wesentlichen Einrichtung (essential...

This paper analyses the quality provision of interrelated market firms under different market structures both theoretically and empirically.A theoretical model is built,where a media firm offers newspapers in a primary market and advertising space in the secondary market.Furthermore,the media...

This paper examines the efficient provision of goods in two-sided markets and characterizes optimal specific and ad-valorem taxes. We show that (i) a monopoly may have too high output compared to the social optimum; (ii) output may be reduced by imposing negative value-added taxes (subsidy) or...

Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from R&D efforts and therefore are both uncertain. I characterize the...

In this paper we build a formal model to study market environments where information is costly to acquire and is of use also to potential competitors. In such situations a market for information may form, where reports - of unverifiable quality - over the information acquired are sold. A...

Ramsey-Boiteux prices and monopoly prices are frequently regarded as being similar. This might suggest that, in particular in network in- dustries with large fixed costs, sometimes monopoly pricing is close to the Ramsey-Boiteux second best and welfare superior to imperfectly regulated prices....

We study an industry in which an upstream monopolist supplies an essential input at a regulated price to several downstream firms. Legal unbundling means that a downstream firm owns the upstream firm but this upstream firm is legally independent and maximizes its own upstream profits. We allow...

We study an industry with a monopolistic bottleneck (e.g. a transmission network) supplying an essential input to several downstream firms. Under legal unbundling the bottleneck must be operated by a legally independent upstream firm, which may be partly or fully owned by an incumbent active in...

We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the markets for their spare parts. We show that monopolized markets for spare parts lead to higher overall expenditures for consumers. Furthermore, while the manufacturers invest...