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Optimal risk taking in an uneven tournament game with risk averse players
Kräkel, Matthias - 2007
We analyze the optimal choice of risk in a two-stage tournament game between two players that have different concave … utility functions. At the first stage, both players simultaneously choose risk. At the second stage, both observe overall risk … and simultaneously decide on effort or investment. The results show that those two effects which mainly determine risk …
Persistent link: https://www.econbiz.de/10010343932
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Endogenous Cartel Formation with Heterogeneous Firms
Bos, Iwan (contributor);  … - 2008
In the context of an infinitely repeated capacity-constrained price game, we endogenize the composition of a cartel when firms are heterogeneous in their capacities. When firms are sufficiently patient, there exists a stable cartel involving the largest firms. A firm with sufficiently small...
Persistent link: https://www.econbiz.de/10003777818
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Complementary patents and market structure
Schmidt, Klaus M. - 2009 - This version: August 19, 2009
Many high technology goods are based on standards that require several essential patents owned by different IP holders. This gives rise to a complements and a double mark-up problem. We compare the welfare effects of two different business strategies dealing with these problems. Vertical...
Persistent link: https://www.econbiz.de/10003909249
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Illinois walls
Schinkel, Maarten-Pieter; Tuinstra, Jan; Rüggeberg, Jakob - 2005
In its landmark ruling in Illinois Brick Co. v. Illinois in 1977, the U.S. Supreme Court restricted standing to sue for recovery of antitrust damages to direct purchasers. However, antitrust damages are typically (in part) passed on to intermediaries lower in the chain of production and...
Persistent link: https://www.econbiz.de/10011343268
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Adverse effects of patent pooling on product development and commercialization
Jeitschko, Thomas D.; Zhang, Nanyun - 2013
The conventional wisdom is that the formation of patent pools is welfare enhancing when patents are complementary, since the pool avoids a double-marginalization problem associated with independent licensing. This conventional wisdom relies on the effects that pooling has on downstream prices....
Persistent link: https://www.econbiz.de/10009735480
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Beyond the dogma of the fixed book price agreement
Ploeg, Frederick van der - 2003
After describing the essential features of the book market, a welfare analysis of the fixed book price agreement is given. Allowance is made for the opportunity cost of reading. Theoretically, the agreement pushes up book prices and depresses book sales. However, more titles will be published,...
Persistent link: https://www.econbiz.de/10011507914
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The Marginal Price Effects of Antitrust Rules Against Price Discrimination
Zenger, Hans - 2012
The two central pricing rules contained in most antirust laws are prohibitions of below-cost pricing and prohibitions of discriminatory pricing. This article shows that the rule against discriminatory pricing may actually induce firms to charge exclusionary below-cost prices, even in the...
Persistent link: https://www.econbiz.de/10013104272
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A Framework for Analyzing Market Manipulation
Ledgerwood, Shaun D. - 2013
Market manipulation is a poorly understood phenomenon, due in part to legal standards that categorize manipulative behavior as either an act of outright fraud or as the nebulous use of market power to produce an artificial price. In this paper, we consider a third type of behavior that can...
Persistent link: https://www.econbiz.de/10013093577
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A Multi-Product Framework Generating Waves of Mergers and Divestitures
Gaisford, James D. - 2009
Recent waves of corporate mergers followed by divestitures have sparked new interest in economic analyses of these issues. We take the merger paradox from the standard oligopoly literature as a starting point and show that in the absence of any cost-synergies of merger activities, firms do have...
Persistent link: https://www.econbiz.de/10013159769
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Jargonomics : Intellectual Property Prices and Marginal Cost
Singleton, Solveig - 2008
The marginal cost of a good is not usually a relevant factor when crafting intellectual property policy. Marginal costs estimates are based on models of static efficiency, not dynamic efficiency, which is more relevant to policymakers.Profit margins on goods must be high enough to both support...
Persistent link: https://www.econbiz.de/10012725781