Globalization, by raising the number of buyers available to each seller and the number of sellers available to each buyer, raises the thickness, or the effective number of participants, of every market. Market thickness can have subtle effects on incentives and organizations, alleviating hold-up...

We apply Luce's choice axiomatic framework to oligopoly pricing of quality differentiated goods. The demand system is a probabilistic comparison of surpluses across products. Zero demands arise naturally, in contrast to the related CES and Mixed Logit models. With asymmetric products, high...