games, we estimate Kmart's exit decision in each market as arising from an asymmetric Markov-perfect equilibrium of a …

market shares. I turn to the commercial banking industry for the empirical implementation. Structural estimation of the model …

values and increases the overall value heterogeneity across the marketplace (market-wide heterogeneity). Furthermore, we find … the high-value sellers among directly competing sellers, which enhances the value heterogeneity of the narrower market … niches (market-niche heterogeneity). In sum, while increasing market-wide heterogeneity raises the marketplace owner’s profit …

calculating welfare losses due to imperfect competition. We compare eleven empirical estimates of economic losses due to market … losses due to market power. Hence, from the perspective of antitrust enforcement, the choice of industry targets has not been …

Internet by companies such as Groupon. We explain why interpersonal bundling is a profitable strategy in the presence of demand …

We formalize the phenomenon of disruptive technologies that initially serve isolated market niches and, as they mature … the effect of disruption on prices, market shares, social welfare and innovation incentives. We show that the potential …