We investigate the role tacit collusion plays in Asymmetric Price Transmission (APT), the tendency of prices to respond more rapidly to positive than to negative cost shocks. Using a laboratory experiment that isolates the effects of tacit collusion, we observe APT pricing behavior in markets...

There is widespread evidence that geographical borders reduce trade. This paper presents a theoretical model capable of providing a succinct comparison of three broad forms of trade barriers involving i) trade costs, ii) localized tastes, and iii) information frictions. Despite being...

We conduct an event study to (1) analyze whether investors revise their expectations about a music album’s success when new chart information is published and (2) estimate how these revised expectations affect the value of a music label. We find that expectations about the success of an album...

Electronic informal (eWOM) is a rising promoting background for customers which affect their evaluation of various existing brands and items, for example, versatile brands through online correspondence channels. The World Wide Web is a magnificent pattern of the thousand years that the key...

This paper reconciles the Cournot and Bertrand Models of oligopolistic competition, highlighting its weaknesses and giving an opinion thereafter. The pertinent question in this paper is why Cournot (1838) ignored the price and Bertrand (1883) ignored the quantity? From the review, the main...

To provide a more flexible workhorse model of temporary price reductions or `sales', this paper presents a substantially generalized `clearinghouse' sales framework. Our framework permits multiple dimensions of firm heterogeneity, and views firms as competing directly in utility rather than...

Excess capacity is viewed as a distinctive feature and an essential inefficiency of monopolistic competition as the large-group case of imperfect competition. Using a simple geometrical approach and studying the demand and cost curves faced by the individual firm, we find that there is little...

In recent years, the increasing awarding of patents has captured the attention of scholars operating in different fields. The economic literature has studied the causes of this proliferation; we propose an entry game focusing on one of the consequences, showing how an incumbent may create a...

L'Union économique et monétaire ouest-africaine (UEMOA) a été créée par la France pour contrer la domination des pays anglophones d'Afrique de l'Ouest, en particulier le Nigeria et le Ghana, sur l'Afrique de l'Ouest francophone. La francophonie en Afrique occidentale française est...

The West African Economic and Monetary Union (UEMOA) was established by France to counteract the dominance of Anglophone countries in West Africa, particularly Nigeria and Ghana, over Francophone West Africa. Francophonie in French West Africa is mainly driven by a power elite, the 'Pré...