Consider a setting where threatened rather than actual import competition restrains a domestic oligopoly's prices. I show that not modeling the entry threat may underestimate the true degree of market power, as incumbents' blunted price responses to demand shocks resemble perfectly-competitive...

Among Brazil's gasoline-ethanol vehicle users, it is common to observe the purchase of the fuel that yields the less miles per dollar of spending. In a large-scale set of experiments with 10,400 subjects, I inform energy consumers at the pump of the effective price difference across fuels. The...

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...

We examine Singapore's market for new privately developed apartments, which for historical reasons exhibits wide quasi-experimental variation in ownership tenure, ranging from perpetual to multi-century to multi-decade leases. We develop an empirical model in which transaction prices are...

This paper argues that large distance and border effects on trade flows in some industries might be a result of the (explicitly or tacitly) collusive division of geographic markets. A simple spatial oligopoly setting demonstrates how goods can travel shorter distances, or trade between regions...

This paper demonstrates that when an industry faces potential entry and this threat of entry constrains pre-entry prices, cost and conduct are not identified from the comparative statics of equilibrium. In such a setting, the identifying assumption behind the well-established technique of...