Showing 1 - 10 of 87
Over the past decade, an increasing number of firms have delegated pricing decisions to algorithms in consumer markets such as travel, entertainment, and retail; business markets such as digital advertising; and platform markets such as ride-sharing. This trend, driven primarily by the increased...
Persistent link: https://www.econbiz.de/10014576568
The North Dakota Railroad War of 1905, which pitted a potential entrant (the Soo Line) against an established monopolist incumbent (the Great Northern Railway), offers a lucid empirical example of strategic behavior, and in particular the potential for entry deterrence through product...
Persistent link: https://www.econbiz.de/10014576577
We examine merging firms' additions and removals of products for a sample of 66 mergers across a wide variety of consumer packaged goods markets. We find that mergers lead to a net reduction in the number of products offered by merging firms. Merging firms tend to both drop and add products at...
Persistent link: https://www.econbiz.de/10014287330
In this paper, we provide a suite of tools for empirical market design, including optimal nonlinear pricing in intensive-margin consumer demand, as well as a broad class of related adverse-selection models. Despite significant data limitations, we are able to derive informative bounds on demand...
Persistent link: https://www.econbiz.de/10014337879
to collusion. Using an explicit measure of labor market collusion from unsealed court evidence, we find that the … probability of collusion between two firms increases by 12 percentage points after the onset of common leadership, compared to a …
Persistent link: https://www.econbiz.de/10015409899
This paper examines the evolving structure and competition dynamics of the rapidly growing market for foundation models, with a focus on large language models (LLMs). We describe the technological characteristics that shape the AI industry and have given rise to fierce competition among the...
Persistent link: https://www.econbiz.de/10015145090
We hand-collect and standardize information describing all 3,055 antitrust lawsuits brought by the Department of Justice (DOJ) between 1971 and 2018. Using restricted establishment-level microdata from the U.S. Census, we compare the economic outcomes of a non-tradable industry in states...
Persistent link: https://www.econbiz.de/10014337831
due to the fact that an importer country should have strong economic incentives to avoid the cartelization of its … suppliers. We show that an importer country sometimes helps producer countries organize and enforce collusion to advance ….g., the Soviet Union). Moreover, using this practice, a powerful importer country can immediately share the cost of collusion …
Persistent link: https://www.econbiz.de/10013334385
, regardless of the underlying economic environment. Our main result establishes that screening for collusion with safe tests is a …
Persistent link: https://www.econbiz.de/10013334437
Understanding the behavior of users online is important for researchers, policymakers, and private companies alike. But observing online behavior and conducting experiments is difficult without direct access to the user base and software of technology companies. We introduce Webmunk, an...
Persistent link: https://www.econbiz.de/10014635657