A country with Cournot competition and free entry experiences an increase of its market size either due to economic growth or international integration of goods markets. The implied increase in competition leads to shrinking mark-ups and forces firms to reduce overhead costs relative to output....

Bubble and burst patterns are evident in the asset market experiment. They violate the efficient market hypothesis which states that market price always indicates the true value. Extensive studies have been dedicated to reducing bubbles and bursts and to making asset markets more efficient....

Bubble and burst patterns are evident in the asset market experiment. They violate the efficient market hypothesis which states that market price always indicates the true value. Extensive studies have been dedicated to reducing bubbles and bursts and to making asset markets more efficient....