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#1Hannu Nurmi (UTU: University of Turku)H-Index: 24
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Abstract This paper uniquely demonstrates the scope for profitable collusion on transport costs under delivered pricing. In addition to being profitable, such collusion is shown to be more stable than price collusion and harder to detect as it presents to authorities as continued Bertrand price competition. Such collusion generates endogenous duopoly locations outside the quartiles with less stable but more profitable collusion happening toward the endpoints. These results emerge in both the tra...
#1José A. Novo-Peteiro (University of A Coruña)H-Index: 1
This paper studies how the type and magnitude of the interaction between quality characteristics determine the nature of the differentiation strategies of firms. The vertical differentiation models with multi-characteristic product preferences consider that the characteristics are independent. We incorporate a non-additive component into a two-dimensional model. Sufficiently high attribute dependence gives rise to maximal differentiation in both qualities: if the qualities are complements, one f...
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Abstract This study revisits the seminal findings by Helpman in 1998 in a more comprehensive setup with Melitz-type firm heterogeneity. Our model features how a change in firm heterogeneity affects agglomeration in an urban-space economy. We contribute to the literature by analytically giving explicit solutions for the threshold values of the housing preference and transport costs that are crucial in determining the equilibrium. We also obtain new findings in the case of asymmetric housing stock...
#1Elton BeqirajH-Index: 1
Last. Carolina SerpieriH-Index: 2
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Abstract By using Bayesian techniques, our paper investigates behavioral New-Keynesian DSGE models derived under two parsimonious alternatives to introduce heterogeneous expectations: the Euler equation and the anticipated-utility approach. First, we explore the relation between the expectation formation processes and the model determinacy for a broad range of parameterizations by using global sensitivity analysis and Monte Carlo filtering. Second, we perform model comparison to assess how much ...
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#1John S. Heywood (UWM: University of Wisconsin–Milwaukee)H-Index: 33
#2Dongyang Li (RUC: Renmin University of China)
Last. Guangliang Ye (Haida: Hainan University)
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This paper compares the stability of collusion under delivered spatial price discrimination and under uniform pricing. Uniquely using a model of elastic demand, we show that collusion under price discrimination can be more stable thus facilitating collusion and making it more likely. This result holds only when the entire market is competitive. Whenever there exist natural monopoly portions of the spatial market, collusion on the remaining market is less stable with spatial price discrimination ...
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#1Robert M. Kunst (University of Vienna)H-Index: 15
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