Deltas, Salvo and Vasconcelos (2011) develop a model of geographically separated markets with differentiated goods in which collusion (or merger to monopoly), by restricting trade relative to duopolistic competition, is beneficial for society and can be beneficial for consumers. In this chapter,...

We show that the prevalence of prolonged tennis contests drops sharply when the ambient environment deteriorates through heat or pollution. We develop a multi-battle dynamic model to investigate how the disutility from a protracted competition shapes agents' willingness to fight on. Our theory...

We examine day-to-day fluctuations in worker-level output over 15 months for a panel of 98 manufacturing workers at a plant located in an industrial city in Hebei province, north China. Long-term workers earn piece-rate wages, with no base pay or minimum pay, for homogeneous tasks performed over...

That collusion among sellers hurts buyers is a central tenet in economics. We provide an oligopoly model in which collusion can raise consumer surplus. A differentiated-product duopoly operates in two geographically-separated markets. Each market is home to a single firm, but can import, at a...

This study finds that a significant and hitherto ignored determinant of home energy demand is ambient particle pollution. I access longitudinal data for Singapore, a newly affluent Asian city nation and arguably a harbinger of what is to come in the urbanizing tropics. Singapore today combines...

Oligopoly theory suggests that anti-competitive mergers may be held up because firms outside the merger stand to increase profits at the expense of the merging firms (Stigler 1950). Against this backdrop, I examine the profitability of cross-border mergers by embedding a class of oligopoly...