Posada and Straume (J Econ 83:243–265, <CitationRef CitationID="CR5">2004</CitationRef>) analyze a three-firm model of a circular city where two of the firms merge and may choose to relocate. They propose an equilibrium with relocation where taking part in the merger yields higher profits than staying outside, i.e., relocation may solve...</citationref>

This paper studies the ambiguous welfare effects of compatibility in a platform market with endogenous content provision. Compatibility can be particularly harmful if it leads to reduced content but can be beneficial if content is sufficiently increased.

We analyze the bidding behavior in a strictly descending multi-unit auction where the price decreases continuously without going back to the initial start price once an object is sold. We prove that any equilibrium in the multi-unit descending auction is inefficient. We derive a symmetric...