We study dual agency in residential real estate, where the same agent/agency represents both the buyer and seller. We assess the extent to which dual agency suffers from an inherent conflict of interest, where the dual agent furthers the interest of one client at the expense of the other...

Researchers have recently developed models for determining which market conduct best describes observed data. The authors apply these techniques from the 'new empirical industrial organization' literature to the competitive product line pricing decision, where a firm strategically prices its...

In this article, we use four data sets to provide a benchmark study of the effects of accounting for endogeneity and simultaneity in estimating marketing-mix effects in a logit demand framework. We compare the results obtained from accounting for endogeneity only to those from accounting for...

This work, set in the "new empirical industrial organization" framework (Bresnahan, 1987), examines firm-level demand-based and cost-based explanations for entry and accommodation strategies in the U.S. photographic film industry. I first estimate preentry and postentry market structures. Then,...

The impact of a firm's strategic marketing mix choices on profitability can be evaluated by understanding the impact of those choices on consumer demand for the firm's products and on the firm's costs. Additionally, a firm's strategic marketing mix choices, and its demand and costs can be...

Consumer goods manufacturers usually sell their brands to consumers through common independent retailers. Theoretical research on such channel structures has analyzed the optimal behavior of channel members under alternative assumptions of manufacturer-retailer interaction (Vertical Strategic...

"This paper empirically tests whether capacity is used to deter entry and whether the amount invested in entry-deterring capacity is related to market concentration and market presence. We use a unique dataset containing 3,830 lodging properties in Texas from 1991 through 1997. We find that...

This study describes a “cheap-talk” model in which sellers can credibly convey unverifiable information by choosing whether or not to exaggerate verifiable information. We find that unexaggerated claims can communicate favorable unverifiable information if buyers are not too likely to verify...