This study examines the extent to which market size disparity across franchises - measured as the coefficient of variation of MSA populations - moderates the effectiveness of competitive balance interventions (CBIs) in Major League Baseball (MLB), the National Football League (NFL), the National...

This paper extends the CES model of monopolistic competition to the case where varieties are both horizontally and vertically differentiated. A distinctive feature of our model is the presence of a network externality, which operates through the number of varieties available at each quality...

This study investigates the impact of market structure on the performance of banks in Pakistan. It explicitly tests two competing hypotheses: the Structure-Conduct-Performance paradigm and the Efficient Structure Hypothesis, providing insights into whether profitability stems from market...

Using Wine Spectator's Top 100 lists for 1988-2025, this note applies Bai-Perron structural break tests to regional and country shares and identifies three distinct periods: 1988-1997, 1998-2015, and 2016-2025. Real prices decline across phases, with the sharpest drop in the most recent period,...

This paper examines the "right" geographic definition of relevant markets by analyzing how excise tax pass-through varies with local competition in the retail gasoline market of a large metropolitan city. Using a natural experiment from three unanticipated and exogenous fuel tax hikes and...

This paper examines whether the SEC's mandate for central clearing of U.S. Treasury repo transactions could enable all-to-all trading and support the development of a standardized term repo market. By mitigating counterparty risk through central clearing, cash lenders may become more willing to...

We study competition between a welfare-maximizing public platform and a profit-maximizing private platform in a two-sided payment market. We characterize the public platform's optimal pricing and show that it balances the benefits of increased competition against the welfare costs of network...