Recent work examines whether morals are eroded in single-unit markets (Falk & Szech, 2013; Bartling, Fehr & Ozdemir …, 2020). These markets provide market power to individual traders, which limits the roles of two forces; (i) replacement … the least moral trader determines quantities. In an experiment, we compare single-unit to (more common) multi-unit markets …

Economic theorists have seldom discussed the social structures behind markets, even though market trading relies … heavily on seller/buyer roles and personal relations among traders. This paper considers the structural basis of markets and … proposes a layered approach which accommodates a wide range of competitive and relational trade within a definition of markets …

The single most important proposition in economic theory, first stated by Adam Smith, is that competitive markets do a … debate about the proper balance between markets and government and prompted some scholars to question whether the conditions …

This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations … competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more … pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to …

- learnt rule-governed behaviour, (i), under perfect competition, and (ii), in a more commercially realistic environment …. During the learning process, markets may lack a true equilibrium price, and therefore sellers in such a model cannot be price … profit level as a measure of Darwinian fitness. The simulated evolution was repeated over a random sample of 10 markets …

markets might use their market power to stabilize the industry structure. The authors find the opposite to be true: Local … markets with more concentrated alcohol sales display more creative destruction. …

Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can …

There is a heated debate on whether markets erode social responsibility and moral behavior. However, it is a … challenging task to identify and measure moral behavior in markets. Based on a theoretical model, we examine in an experiment the … relation between trading volume, prices and moral behavior by setting up markets that either impose a negative externality on …