We develop a mixed-duopoly model in which a private firm competes against a state owned enterprise (SOE) who cares about social welfare and is privately informed of market demand. When the SOE's social concerns are sufficiently important and when the market competitiveness is sufficiently low,...

Gray markets arise when an intermediary buys a product in a lower-priced, often emerging market and resells it to compete with the product’s original manufacturer in a higher-priced, more developed market. Evidence suggests that gray markets make the original manufacturer worse off globally by...

Gray markets arise when an intermediary buys a product in a lower-priced, often emerging market and resells it to compete with the product’s original manufacturer in a higher-priced, more developed market. Evidence suggests that gray markets make the original manufacturer worse off globally by...