This paper develops a simple nonparametric test for perfect competition in markets for homogenous goods. The method only requires data on prices and some aggregate of output. We then generalize the method to account for variable capacity and intertemporal production decisions. We apply the...

How does electricity market integration affect cross-border electricity flows, wholesale prices and renewable electricity generation? We employ a synthetic control method to contribute to literature on electricity market integration using the 2018 integration of Ireland's Single Electricity...

This paper evaluates the temporary reduction in energy taxes implemented by the German government between June and September 2022. We use pricing and quantity data from the wholesale market for crude oil, gasoline, and diesel and find an average pass through of 80% to 85% of the tax cut, which...

This paper evaluates the temporary reduction in energy taxes implemented by the German government between June and September 2022. We use pricing and quantity data from the wholesale market for crude oil, gasoline, and diesel and find an average pass through of 80% to 85% of the tax cut, which...

Background Based on the legal framework laid down in section 130b (9) of Book V of the German Social Code, various criteria are relevant for the negotiated price for new patented drugs in Germany. European reference prices (ERPs) are one criterion. The ERP is based on the ex-factory prices...

This study examined the vertical transmission of wheat price among the main value chain, looking at the pricing behaviour of certain role players in the wheat production/supply and the distribution of bread, which is a major staple food consumed in South Africa. A nonlinear autoregressive...

Research on the subject of marketing ethics has already been a neglected area. There is a lack of research in the field, especially from the developing world. Thus, this study explored the marketing ethics practice and perceptions of marketing practitioners in the wholesale and retail sector in...

A few recent publications on interrupted time series analysis only conduct preintervention modelling and use it to illustrate postintervention deviation without quantifying the amount lost during the intervention period. Thus, this study aims to illustrate how to estimate and quantify the actual...

This study employs synthetic control methods to estimate the effect of the Iberian exception mechanism on wholesale electricity prices and consumer inflation, for both Spain and Portugal. We find that the intervention led to an average reduction of approximately 40% in the spot price of...

I study the impact of banking market concentration and wholesale funding reliance on the transmission of monetary policy shocks to mortgage rates. I empirically demonstrate that in the United States, banks with higher reliance on wholesale funding in concentrated (competitive) deposit markets...

Fuel price caps are one of the potential regulatory tools for controlling wholesale electricity prices when fuel prices are volatile. In this paper, we introduce a theoretical model to study the effects of such caps on firms’ bidding behavior and clearing prices in spot market auctions. We...

This paper explores the role of markets in facilitating the transition to renewable energy sources. In particular, it investigates the effectiveness of a gross pool wholesale market design, where all electricity is traded in the spot market, in providing price signals that encourage investments...

A growing empirical literature finds that firms pass the cost of minimum wage hikes onto consumers via higher retail prices. Yet, little is known about minimum wage effects on wholesale prices and whether retailers face a wholesale cost shock in addition to the labor cost shock. I exploit the...

Relational contracting (RC) is an important yet little understood governance of transactions that provides more stability than the spot market and more flexibility than vertical integration. Employing transaction data on a large vegetable wholesale market in China, we study RC alongside a...

Market observers criticize the practice of retail brokers routing retail orders to wholesalers and argue that retail flow should execute on exchanges. Using comprehensive data, we show that both wholesalers and exchanges have characteristics beneficial for retail orders. Wholesalers provide...

Real-time pricing demand response programs (RTP-DRPs) are practical measures that ensure the end user’s profitability from using electricity by adjusting the supply and demand equilibrium without activating costly solutions. This study explores the potential of RTP-DRPs by developing and...

This article presents a mechanism design analysis of the optimal wholesale tariff proposed by the monopolistic manufacturer of a branded product to a monopolistic retailer if the retailer also sells a private label whose quality is unobserved by the brand manufacturer. While prior literature had...

Compared with the conventional wholesale mode, e-retail platform has been the other alternative for a manufacturer building a market channel. Motivated by this common observation, this paper develops two models to investigate the manufacturer’s e-retail platform and wholesale strategies by the...

Using newly released public data on beer prices in the state of California, we construct a large dataset (approximately 2 million observations) that includes beer prices and packaging configurations. We merge this dataset with brewery attributes and county demographics to explore pricing...

The report starts with a brief overview of the evolution of competitive power markets and the current global landscape of electricity markets. It further reviews the arguments for markets, including existing evidence as well as basic preconditions for market reform. The main body of the report...

Being the main food commodity, the dynamics of rice prices is one of the most important issues for Indonesian economy. The prices at the retail level and at the farm level are influenced not only by the demand and supply in each of these markets but also by price behavior at the wholesale...

We study how a backer’s risk of not getting delivery of a product, even after a “successful” crowdfunding campaign, is affected by an entrepreneur’s incentive to set a funding goal that is lower than the amount needed to start product development. The entrepreneur makes an estimate of...

We present evidence that in May 2022 several retail brokers who do not charge wholesalers for their marketable orders routed most of their marketable orders to wholesalers for order handling and execution. Using proprietary marketable order flow data from one or more wholesaler(s) for May 2022,...

Purpose Forecasts of commodity prices are vital issues to market participants and policy makers. Those of corn are of no exception, considering its strategic importance. In the present study, the authors assess the forecast problem for the weekly wholesale price index of yellow corn in China...