A bidding process can be organized so that offers are submitted simultaneously or sequentially. In the latter case, potential buyers can condition their behavior on previous entrants' decisions. The relative performance of these mechanisms is investigated when entry is costly and selective,...

This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...

This paper examines how changes in radio station ownership have affected music variety and station listenership. A unique panel dataset of music radio airplay shows that a common owner of stations in the same local radio market and the same broad music category increases the degree of...

This paper examines whether commercial radio stations try to play their commercials at the same time. A simple model shows that stations may want to choose the same times (coordination) or different times (differentiation) depending on how listeners behave. It also shows that how much...

This paper presents a model of an imperfect information coordination game which has multiple equilibria if the incentive of players to choose the same action is strong enough. It shows how the existence of multiple equilibria in the model and in data from multiple independent repetitions of the...