has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …

agencies (CRAs). To this end, it introduces a heterogeneous competition model for credit and ratings markets. Frictions among …

can explain several puzzling findings in the economics of education, including the fact that competition can, but does not …

-sharing, screening opportunities, and competition are important driving forces behind these new forms of work organization. We document … competition substantially fosters the trust strategy, reduces market segmentation, and leads to large welfare gains for both …