This article establishes a causal effect of product market competition on vertical integration. I exploit a hitherto unexplored natural experiment in the U.S.
It has long been understood in theory that price-match guarantees can be anticompetitive, but to date, scant empirical evidence is available outside of some narrow markets.
We show that in many models where firms make multiple decisions, analysis can be made more tractable by re-formulating the model into one in which each firm makes a single choice, which we call a suff
When price dispersion is prevalent, a relevant question is what happens to the whole distribution of equilibrium prices when the number of firms changes.
This paper shows that a firm can use the purchase price and the fine imposed on detected payment evaders to discriminate between unobservable consumer types.
Competitive pressure is lower in markets where goods are more differentiated.
This paper investigates the transmission of fossil fuel commodity spot market price changes to procurement costs of U.S. power producers.
We identify two issues in Choi's [2010] paper on tying in two-sided markets published in this Journal, and provide solutions to both of them.
