For many years now, the Internet seemed to be open, free, and competitive. Internet entrepreneurialism was high, financing easy, entry barriers low. But now, in the wake of the Internet's bursting bubble, the reality of that competitiveness deserves a second look: Is the Internet still as open...

This paper (1) presents a general model of online price competition, (2) shows how to structurally estimate the underlying parameters of the model when the number of competing firms is unknown or in dispute, (3) estimates these parameters based on UK data for personal digital assistants, and (4)...

How intense is market competition in the Chinese economy? We extend to China, the literature that measures the intensity of market competition in terms of the persistence of firm profitability from year to year. The fundamental notion is that intense competition will quickly evaporate any short...