Consumers buy products even if they find it too time-consuming to evaluate products carefully. I present a simple market model with sequential consumer search and differentiated products in which consumers may purchase products without evaluation. In a market with evaluation cost heterogeneity...

We study research joint ventures (RJV) given that knowledge spillovers depend positively on the technological proximity between rms. Possible scenarios differ in the intensity of collaboration, i.e., the (non)coordination of research activities and the extent of knowledge sharing. The...

Inspired by recent regulations in the New York ICAP market, this paper examines the effect of price regulations on a multi-unit uniform price auction. General bid caps reduce the maximum price below the bid cap, but also the minimum potential market price below the cap. A bid cap only for the...

Including the entry decision in a Bertrand model with imperfectly informed consumers, we introduce a trade-off at the level of social welfare. On the one hand, market transparency is beneficial when the number of firms is exogenously given. On the other, a higher degree of market transparency...

We present the idea that quality cooperation and standardisation might raise network providers' incentives for product differentiation. As a result, the equilibrium outcome may be characterised by voluntary standardisation and maximum quality differentiation: This situation arises, if platforms...

We develop a model of a city populated by heterogeneous agents. Agents self-select into entrepreneurship, and entrepreneurs set up firms which hire workers. We characterize the equilibrium matching between firms and workers, as well as the within-city assignment of agents to locations. We then...

We propose a general model of monopolistic competition, which encompasses existing models while being flexible enough to take into account new demand and competition features. Using the concept of Frechet differentiability, we determine a general demand system. The basic tool we use to study the...