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Private information, risk aversion, and the evolution of market research

Güth, Sandra; Güth, Werner; Müller, Wieland - 2000

On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only …

Persistent link: https://www.econbiz.de/10010310279

Broll, Udo; Zilcha, Itzhak - 1995

The paper derives optimal cross hedging and production rules for an exporting firm which faces multiple exchange rate risks. We study the impact of currency cross hedging upon the firm's export production for two countries. We demonstrate that when the forward market for cross hedging is...

Persistent link: https://www.econbiz.de/10010398060

Financial Contracts as Coordination Device

Le Coq, Chloé; Schwenen, Sebastian - 2019

We study the use of fi nancial contracts as bid-coordinating device in multi-unit uniform price auctions. Coordination is required whenever firms face a volunteer's dilemma in pricing strategies: one firm (the "volunteer") is needed to increase the market clearing price. Volunteering, however,...

Persistent link: https://www.econbiz.de/10012110674

Financial contracts as coordination device

Le Coq, Chloé; Schwenen, Sebastian - In: Journal of Economics & Management Strategy 29 (2020) 2, pp. 241-259

We study the use of financial contracts as bid-coordinating device in multi-unit uniform price auctions. Coordination is required whenever firms face a volunteer's dilemma in pricing strategies: one firm (the “volunteer") is needed to increase the market clearing price. Volunteering, however,...

Persistent link: https://www.econbiz.de/10012428634

The impact of inflation risk on forward trading and production

Broll, Udo; Wong, Kit Pong - 2014

This note examines the behavior of a competitive firm that faces joint price and inflation risk. Given that the price risk is negatively correlated with the inflation risk in the sense of expectation dependence, the firm optimally opts for an overhedge if the firm's coefficient of relative risk...

Persistent link: https://www.econbiz.de/10011521874

Do forward markets enhance competition? Experimental evidence

Le Coq, Chloé; Orzen, Henrik - 2002

. In this study we analyze the case of an n firm oligopoly in Allaz' and Vila's framework and derive comparative static …

Persistent link: https://www.econbiz.de/10010281331

Beyond Illyria: Workers' firm in mixed oligopoly

Delbono, Flavio; Lanzi, Diego; Reggiani, Carlo - 2022

We rationalize several facts emerging from the recent empirical research on cooperatives owned by workers (workers' firms, WF) as: the concern of WFs for employment; the interplay between membership and workplace safeguard within WFs; the different reaction to shocks between WFs and...

Persistent link: https://www.econbiz.de/10013394354

On the welfare effects of adverse selection in oligopolistic markets

De Pinto, Marco; Goerke, Laszlo; Palermo, Alberto - 2022

information and sell their output in a homogeneous Cournot-oligopoly. We find that asymmetric information may mitigate or more …

Persistent link: https://www.econbiz.de/10013400204

Strategic data sales to competing firms

Delbono, Flavio; Reggiani, Carlo; Sandrini, Luca - 2021

The unprecedented access of firms to consumer level data facilitates more precisely targeted individual pricing. We study the incentives of a data broker to sell data about a segment of the market to three competing firms. The segment only includes a share of the consumers in the market around...

Persistent link: https://www.econbiz.de/10013461503

Cost uncertainty in an oligopoly with endogenous entry

de Pinto, Marco; Goerke, Laszlo - In: Bulletin of Economic Research 74 (2021) 4, pp. 927-948

How does cost uncertainty affect the welfare consequences of an oligopoly? To answer this question, we investigate a … Cournot oligopoly in which firms produce a homogeneous commodity and market entry is feasible. Marginal costs are unknown ex … analytical setup. Furthermore, the welfare loss due to oligopoly tends to increase with uncertainty. …

Persistent link: https://www.econbiz.de/10013464617