Imperfect competition
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Asymmetric Information and Imperfect Competition in Lending Markets Open
We study the effects of asymmetric information and imperfect competition in the market for small business lines of credit. We estimate a structural model of credit demand, loan use, pricing, and firm default using matched firm-bank data fr…
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Competition and Entry in Agricultural Markets: Experimental Evidence from Kenya Open
African agricultural markets are characterized by low farmer revenues and high consumer food prices. Many have worried that this wedge is partially driven by imperfect competition among intermediaries. This paper provides experimental evid…
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The Macro Impact of Short‐Termism Open
R&D investment reduces current profits, so short‐term pressure to hit profit targets may distort R&D. In the data, firms just meeting Wall Street forecasts have lower R&D growth and subsequent innovation, while managers just missing receiv…
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Preferences, entry, and market structure Open
We provide a unified approach to imperfect (monopolistic, Bertrand, and Cournot) competition when preferences are symmetric over a finite but endogenous number of goods. Markups depend on the Morishima elasticity of substitution and on the…
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Competitive Imperfect Price Discrimination and Market Power Open
This article investigates how firms compete when they have the ability to set a personalized price to those consumers they can profile and a uniform price to those consumers they cannot profile; how this affects the incentives to supply da…
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Imperfect Markets versus Imperfect Regulation in U.S. Electricity Generation Open
This paper measures changes in electricity generation costs caused by the introduction of market mechanisms to determine output decisions in service areas that were previously using commandand-control-type operations.I use the staggered tr…
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Firm Dynamics, On-the-Job Search, and Labor Market Fluctuations Open
We devise a tractable model of firm dynamics with on-the-job search. The model admits analytical solutions for equilibrium outcomes, including quit, layoff, hiring, and vacancy-filling rates, as well as the distributions of job values, a f…
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Reorder point for the EOQ inventory model with imperfect quality items Open
In today’s competitive business environment, every manufacturing organization desires to produce good quality items. Likewise, customers are also more concern with the quality of the item, which led to the increased competition among the o…
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Imperfect Competition in Firm-to-Firm Trade Open
This paper studies the implications of imperfect competition in firm-to-firm trade. Exploiting data on the universe of sales relationships between Belgian firms, we document that firms’ markups increase in the average input shares among th…
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Bank Concentration and Schumpeterian Growth: Theory and International Evidence Open
This paper investigates the relationship between economic growth and bank concentration.We introduce imperfect competition within the banking system according to the Schumpeterian growth paradigm, and we theoretically and empirically show …
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Tax Advantages and Imperfect Competition in Auctions for Municipal Bonds Open
We study the interaction between tax advantages for municipal bonds and the market structure of auctions for these bonds.We show that this interaction can limit a bidder's ability to extract information rents and is a crucial determinant o…
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MARKET POWER AND BARGAINING POWER IN THE EU FOOD SUPPLY CHAIN: THE ROLE OF PRODUCER ORGANIZATIONS Open
Imperfect competition in the food supply chain is a concern for several "weak agents" such as small farmers and consumers.Given the difficulties in applying standard anti-trust regulations in the agrifood system, a growing interest is emer…
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Microeconomics for Public Decisions Open
1. Overview of Economics. 2. Demand and Supply. 3. Market Dynamics and Interventions. 4. Choice and Demand. Appendix: Utility Maximization. 5. Costs and Supply. Appendix: Production Functions. 6. Efficiency and Equity. 7. Welfare Economics…
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Proactive transmission expansion planning with storage considerations Open
Under the current European market environment, transmission companies have to decide network expansion by maximizing social welfare. However, generation companies (GENCOs) decide their capacity expansion with the aim of maximizing their ow…
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The effect of ethanol policies on the vertical price transmission in corn and food markets Open
This paper analyzes the impact of ethanol policies on price transmission along the food supply chain. We consider the US corn sector and its vertical links with food and ethanol (energy) markets. We find that ethanol is a source of imperfe…
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International trade and environmental corporate social responsibility Open
This paper analyzes firms' incentives to engage in environmental corporate social responsibility (ECSR) in an international market under imperfect competition. We find that in the absence of environmental taxes firms do not adopt ECSR. How…
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Cross-border circulation of films and cultural diversity in the EU Open
This paper explores new data sources on multilateral trade in films among EU countries and with the USA in offline cinema and in online video-on demand distribution. We observe variations in trade patterns across countries and films and ex…
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Pass-through, welfare, and incidence under imperfect competition Open
This paper provides a comprehensive framework to study welfare effects of multiple policy interventions and other external changes under imperfect competition with emphasis on specific and ad valorem taxation as a leading case. Specificall…
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Rail freight development in Europe: how to deal with a doubly-imperfect competition? Open
International audience
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Solving oligopolistic equilibrium problems with convex optimization Open
The approach of choice to analyze markets with oligopolistic competition has traditionally been complementarity modeling. In this paper we show that the majority of partial equilibrium models under imperfect competition in the (energy-)eco…
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Imperfection with inspection policy and variable demand under trade-credit: A deteriorating inventory model Open
A deteriorating inventory model with imperfect product and variable demand is formulated in this paper. A time-dependent deterioration factor is considered because the rate of deterioration is highly hinging on time. We introduce imperfect…
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The carbon price: a toothless tool for material efficiency? Open
This article explores whether a carbon price will effectively encourage the more efficient use of greenhouse gas intensive materials such as steel. The article identifies a range of distortions that arise when some of the restrictive assum…
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Imperfect information, algorithmic price discrimination, and collusion* Open
We analyze the ability of firms to sustain collusion in a setting in which horizontally differentiated firms can price discriminate based on private information. Firms receive private, noisy signals regarding customers’ preferences. We fin…
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Salience and Taxation with Imperfect Competition Open
This paper studies commodity taxation in a model featuring heterogeneous consumers, imperfect competition, and tax salience.We derive new formulas for the incidence and marginal excess burden of commodity taxation, and we find that tax sal…
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PASAR PERSAINGAN SEMPURNA DAN PASAR PERSAINGAN TIDAK SEMPURNA DALAM PERSPEKTIF ISLAM Open
Conceptually, this research describes the structure between the perfect competition market and the imperfect competition market which is also seen from an Islamic perspective, which of course also talks about the structure of the perfect c…
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Risk trading in capacity equilibrium models Open
We present a set of power investment models, the class of risky capacity equilibrium problems, reflecting different assumptions of perfect and imperfect markets. The models are structured in a unified stochastic Nash game framework. Each m…
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Classical or Gravity? Which Trade Model Best Matches the UK Facts? Open
We examine the empirical evidence bearing on whether UK trade is governed by a Classical model or by a Gravity model, using annual data from 1965 to 2015 and the method of Indirect Inference which has very large power in this application. …
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Macroeconomics with Endogenous Markups and Optimal Taxation Open
I augment a flexible price dynamic general equilibrium model with any symmetric intratemporal preferences over a variety of goods supplied under monopolistic, Bertrand, or Cournot competition to derive implications for business cycle and m…
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MARRIAGE MARKET MATCHING AND CONSPICUOUS CONSUMPTION IN CHINA Open
Visible expenditures which convey higher socioeconomic status may help individuals differentiate themselves in the marriage market when there is competition for partners and imperfect information. We examine a unique dataset of automobile …
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Balance Sheet Channel with Information-Trading Frictions in Secondary Markets Open
This article develops a theory of the balance sheet channel that places a central emphasis on the liquidity of secondary markets for macro-contingent claims. We show that the presence of dispersed information and imperfect competition in s…