In this paper, we show that the Shapley-Shubik market game model with production naturally generates an equilibration mechanism that can accommodate price stickiness arising from strategic interactions of firms. Unlike New Keynesian models that show similar price stickiness results, the market...

To revitalize local communities and economies, more not-for-profit food cooperatives (coops) are establishing their presence in less-populated areas or poor communities in recent years. This trend has motivated us to examine the entry conditions for food coops with the following two related...

We study the impact of endogenous shocks driven by collective actions of managers. We analyze how such endogenous shocks impact social welfare by employing an overlapping-generations model. We first prove that the competitive equilibrium allocation is suboptimal because of the externalities in...

Economic growth in many countries is increasingly driven by successful startups that operate as online platforms. These success stories have motivated us to define and classify various online platforms according to their business models. This study discusses strategic and operational issues...

We study multiple parallel contests where contest organizers elicit solutions to innovation-related problems from a set of solvers. Each solver may participate in multiple contests and exert effort to improve her solution for each contest she enters, but the quality of her solution at each...

We study supply chains where multiple suppliers sell to multiple retailers through a wholesale market. In practice, we often observe that both suppliers and retailers tend to influence the wholesale market price retailers pay to suppliers. However, existing models of supply chain competition do...

In this paper, we analyze the impact of mergers of consumer cooperatives on consumers. We build a game-theoretic model of a supply chain where multiple suppliers produce a product to maximize their profits subject to capacity constraints, and multiple consumer cooperatives procure this product...