Issue 4

December 2016

Horizontal Product Differentiation: Disclosure and Competition

This paper studies firms' incentives to disclose horizontal product attributes in a competitive environment.

Competition in a Dynamic Auction Market: Identification, Structural Estimation, and Market Efficiency

The model incorporates an infinite series of auctions for identical items (or close substitutes) ordered over time and bidders with unit demand.

Regulation and Contract Design: The Impact of Relationship Specific Investment

A primary explanation for variation in contract structure is the extent to which contracting parties make investments specific to their transaction.

Pass-Through and the Prediction of Merger Price Effects

We use Monte Carlo experiments to study how pass-through can improve merger price predictions, focusing on the first order approximation (FOA) proposed in Jaffe and Weyl [].

Dynamic Spatial Competition Between Multi-Store Retailers

We propose a dynamic model of an oligopoly industry characterized by spatial competition between multi-store retailers.

Cinematic Explosion: New Products, Unpredictabilty and Realized Quality in the Digital Era

While file sharing has undermined firms’ ability to generate revenue for their products, other technological change has reduced entry barriers in cultural industries, with substantial positive impacts

Price Discrimination with Demarketing

We study how demarketing interacts with pricing decisions to explain why and when it can be employed as the seller's optimal strategy.

Collusion Under Risk Aversion and Fixed Costs

We analyze collusion under demand uncertainty by risk-averse cartels that care about the utility derived from profits.

Heterogeneous Firms and Asymmetric Product Differentiation

We introduce asymmetric product differentiation in a model characterized by a linear demand system, endogenous markups and heterogeneous firms (as in Melitz-Ottaviano [2008]).

Production Theory: Accounting for Firm Heterogeneity and Technical Change

The paper presents a new framework to assess firm level heterogeneity and to study the rate and direction of technical change.