Markets are ubiquitous in our daily life and, despite many imperfections, they are a great source of human welfare …. Nevertheless, there is a heated recent debate on whether markets erode social responsibility and moral behavior. In fact …, competitive pressure on markets may create strong incentives for unethical practices (like using child labor) to increase …

We focus on the estimation of market entry costs that are declining over time and evaluate their impact on competition …

the high-quality firm’s product than vice versa. The high-quality firm is better shielded from price competition, as its …