This paper presents a model of a card payment system as a two-sided market that allows for partial participation by heterogeneous consumers and merchants.
We show that competing banks relax overall competition by inducing borrowers to switch lenders.
This paper tests the predictions of economic theory on the determinants of the allocation of decision-making power through the estimates of ordered probit models with random effects.
A regulator offers a cooperation contract to two firms to develop a research project. The contract provides incentives to encourage skill-sharing and coordinate subsequent efforts.
We examine the effect of competition on the incentive of firms to disclose quality to consumers before trade when information disclosure is not costless.
Market power and joint dominance are examined in U.K. brewing.
This paper shows that under reasonable conditions, increasing gate revenue sharing among teams in a sports league will produce a more uneven contest, i.e. reduce competitive balance.