This paper demonstrates how, by introducing a generic version of its previously patented product, a branded firm can influence the equilibrium in the generic segment of the market for the product. This in turn can increase the firm's profits from selling the branded version. We then use...

Because of its unique institutional and regulatory features, the generic drug industry provides a useful laboratory for understanding how competition evolves. We exploit these features to estimate a system of structural relationships in this industry, including the relationship between price and...

Purpose: Many recently enacted financial regulations exempt smaller entities. While the literature on systemic risk provides efficiency justifications for certain exemptions, the efficiency rationale depends on measuring size appropriately. This paper aims to argue that notional amount, the...

This paper develops a model of competition among multiproduct retailers that is consistent with observed pricing regularities, such as the facts that virtually all products have large mass points in their price distributions and that most deviations fall below these mass points. The basis of the...

This paper develops a model of competition among multiproduct retailers that is consistent with observed pricing regularities, such as the facts that virtually all products have large mass points in their price distributions and that most deviations fall below these mass points. The basis of the...

Trading by commodity index traders (CITs) has become an important aspect of financial markets over the past 10 years. We develop an equilibrium model of trader behavior that relates uninformed CIT trading to futures prices. A key implication of the model is that CIT trading reduces the cost of...