A monopoly seller advises buyers about which of two goods best fits their needs but may be tempted to steer buyers towards the higher margin good.
We discuss a government’s incentives to delegate regulation to bureaucrats.
Collusion in auctions can take different forms, such as refraining from bidding. Certain aspects of highway procurement auctions facilitate collusive outcomes.
In this paper, we develop the concept of the strategic industry supply curve, representing the locus of Nash equilibrium outputs and prices arising from additive shocks to demand.
Certain forms of price discrimination in oligopoly markets can lead to more aggressive competition and lower profits, yet few empirical studies examine how extensively such strategies are used.
Industries, such as semiconductors and biotechnology, are characterized by heterogeneous research productivity and vertically differentiated products.
