faster trading speed. Asset prices decrease when there is intermediation competition and are further depressed by price … number of exchanges, faster trading is in general socially desirable. Similarly, for a given trading speed, competition among … exchange increases participation and welfare. However, when speed is endogenous, competition between exchanges is not …

led to patterns of behaviour that suggest imperfect competition and market segmentation. At times in the past, the …

This paper analyses the impact of competition among downstream firms on an upstream firm's payoff and on its incentive … to vertically integrate when firms on both segments negotiate optimal contracts. We argue that tougher competition … firm is better off encouraging competition when the downstream firms have high bargaining power. We derive implications on …

pricing strategy of firms. Educating consumers may do more harm than good and should thus only be considered if the regulator …

impact of several dimensions of market competition and other factors on enterprise efficiency. We analyse 1992-1998 panel …, intensity, time path, and survival effects of competitive pressures. We find large, positive effects on TFP from competition in …

This Paper examines competition between a dominant network and a challenging network with third-degree or perfect price … competition and reduces average equilibrium prices. Because bandwagon effects are due to the incompatibility of networks, under … incentives to unilaterally degrade the quality for some targeted group of consumers in order to weaken competition. …

to pay more for exclusivity, the higher the demand (the lower the cost), that is precisely when competition yields the …

This Paper introduces optimal competition: the best form of competition in an industry that a competition authority can … competition outcome in an industry becomes more competitive as more money is spent in the industry, as the competition authority … puts less weight on producer surplus and more weight on employment. The relation between competition and entry costs is U …

We study the effects of reputation and competition in a stylized market for experience goods. If interaction is …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely. …

We examine a Bertrand competition game between two intermediaries offering matching services between two sides of a …