Collusion And Price Rigidity

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Price Rigidity

Author : Torben M. Andersen
Publisher : Oxford University Press on Demand
ISBN 13 : 9780198287605
Total Pages : 186 pages
Book Rating : 4.2/5 (876 download)

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Book Synopsis Price Rigidity by : Torben M. Andersen

Download or read book Price Rigidity written by Torben M. Andersen and published by Oxford University Press on Demand. This book was released on 1994 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The price adjustment process is crucial to almost any macroeconomic issue. Current macroeconomic literature features widely different models ranking from instantaneous price adjustment to completely rigid prices. Professor Andersen provides a comprehensive analysis of reasons why prices may fail to adjust instantaneously to changes in market conditions. This unified treatment will allow the reader to understand the mechanisms at work without becoming lost in technical details. This volume covers both real and nominal price rigidities and integrates existing results from the literature with new results on causes for failures of price adjustment. The analysis of real price rigidities includes inventories, customer markets, search and collusive behaviour. Due to the focus on macroeconomic implications, the analysis of nominal price rigidities is extensive and includes menu costs, informational problems, asynchronized price setting as well as the interaction between price and wage setting. Professor Andersen's own theoretical work on imperfect information, a prime source of price and wage rigidity, is given prominence in the book. The volume is thus a combination of a valuable survey of the literature, and an original expression of future possible research avenues.

Asking About Prices

Author : Alan Blinder
Publisher : Russell Sage Foundation
ISBN 13 : 1610440684
Total Pages : 412 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Asking About Prices by : Alan Blinder

Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.

The Antitrust Paradox

Author : Robert Bork
Publisher :
ISBN 13 : 9781736089712
Total Pages : 536 pages
Book Rating : 4.0/5 (897 download)

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Book Synopsis The Antitrust Paradox by : Robert Bork

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

New Developments in the Analysis of Market Structure

Author : International Economic Association
Publisher : MIT Press
ISBN 13 : 9780262690935
Total Pages : 588 pages
Book Rating : 4.6/5 (99 download)

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Book Synopsis New Developments in the Analysis of Market Structure by : International Economic Association

Download or read book New Developments in the Analysis of Market Structure written by International Economic Association and published by MIT Press. This book was released on 1986 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of market structures, such as numbers of firms and barriers to entry; other factors which determine the effective degree of competition in the market; the influence of major firms (especially when these pursue objectives other than profit maximization); and decentralization and coordination under control relationships other than markets and hierarchies.ContributorsJoseph E. Stiglitz, G. C. Archibald, B. C. Eaton, R. G. Lipsey, David Enaoua, Paul Geroski, Alexis Jacquemin, Richard J. Gilbert, Reinhard Selten, Oliver E. Williamson, Jerry R. Green, G. Frank Mathewson, R. A. Winter, C. d'Aspremont, J. Jaskold Gabszewicz, Steven Salop, Branko Horvat, Z. Roman, W. J. Baumol, J. C. Panzar, R. D. Willig, Richard Schmalensee, Richard Nelson, Michael Scence, and Partha Dasgupta

Putting Auction Theory to Work

Author : Paul Milgrom
Publisher : Cambridge University Press
ISBN 13 : 1139449168
Total Pages : 378 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Putting Auction Theory to Work by : Paul Milgrom

Download or read book Putting Auction Theory to Work written by Paul Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.

Handbook of Monetary Economics 3A

Author :
Publisher : Elsevier
ISBN 13 : 0080932703
Total Pages : 754 pages
Book Rating : 4.0/5 (89 download)

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Book Synopsis Handbook of Monetary Economics 3A by :

Download or read book Handbook of Monetary Economics 3A written by and published by Elsevier. This book was released on 2010-12-08 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: What tools are available for setting and analyzing monetary policy? World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. - Explores the models and practices used in formulating and transmitting monetary policies - Raises new questions about the volume, price, and availability of credit in the 2007-2010 downturn - Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself - Observes changes in the formulation of monetary policies over the last 25 years

Essays on Price Rigidity on the Internet

Author : Dongwon Lee
Publisher :
ISBN 13 :
Total Pages : 418 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Essays on Price Rigidity on the Internet by : Dongwon Lee

Download or read book Essays on Price Rigidity on the Internet written by Dongwon Lee and published by . This book was released on 2006 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Auctions and Auctioneering

Author : Ralph Cassady Jr.
Publisher : Univ of California Press
ISBN 13 : 0520322258
Total Pages : 346 pages
Book Rating : 4.5/5 (23 download)

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Book Synopsis Auctions and Auctioneering by : Ralph Cassady Jr.

Download or read book Auctions and Auctioneering written by Ralph Cassady Jr. and published by Univ of California Press. This book was released on 2023-04-28 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1967.

The Oxford Handbook of International Antitrust Economics

Author : Roger D. Blair
Publisher : Oxford Handbooks
ISBN 13 : 0199388598
Total Pages : 665 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis The Oxford Handbook of International Antitrust Economics by : Roger D. Blair

Download or read book The Oxford Handbook of International Antitrust Economics written by Roger D. Blair and published by Oxford Handbooks. This book was released on 2015 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.

The Oxford Handbook of International Antitrust Economics, Volume 2

Author : Roger D. Blair
Publisher : Oxford University Press
ISBN 13 : 019938861X
Total Pages : 665 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis The Oxford Handbook of International Antitrust Economics, Volume 2 by : Roger D. Blair

Download or read book The Oxford Handbook of International Antitrust Economics, Volume 2 written by Roger D. Blair and published by Oxford University Press. This book was released on 2014-11-03 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.

Price Rigidity and Multi-market Oligopoly

Author : Kiyohiko G. Nishimura
Publisher :
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Price Rigidity and Multi-market Oligopoly by : Kiyohiko G. Nishimura

Download or read book Price Rigidity and Multi-market Oligopoly written by Kiyohiko G. Nishimura and published by . This book was released on 1993 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Theoretical and Practical Frameworks for Agent-Based Systems

Author : Zhang, Yu
Publisher : IGI Global
ISBN 13 : 1466615664
Total Pages : 343 pages
Book Rating : 4.4/5 (666 download)

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Book Synopsis Theoretical and Practical Frameworks for Agent-Based Systems by : Zhang, Yu

Download or read book Theoretical and Practical Frameworks for Agent-Based Systems written by Zhang, Yu and published by IGI Global. This book was released on 2012-05-31 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many everyday dilemmas existing in the real world are complex and difficult to solve or fix, ranging from tax evasion to dispatching taxis to scheduling patient visits in hospitals, and much more. Within these complicated problems, however, lies the potential to be simplified or solved by intelligent agents and multi-agent systems. Theoretical and Practical Frameworks for Agent-Based Systems tackles these real problems and many more, bringing the theoretical research of intelligent agents to researchers and practitioners in academia, government, and innumerable industries. Professionals and experts in every field ranging from education to healthcare and beyond will find this reference to be essential in the understanding of agents, and researchers currently working in the field of intelligent agents will benefit from this exciting examination of practical applications.

Learning and Expectations in Macroeconomics

Author : George W. Evans
Publisher : Princeton University Press
ISBN 13 : 1400824265
Total Pages : 440 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Learning and Expectations in Macroeconomics by : George W. Evans

Download or read book Learning and Expectations in Macroeconomics written by George W. Evans and published by Princeton University Press. This book was released on 2012-01-06 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: A crucial challenge for economists is figuring out how people interpret the world and form expectations that will likely influence their economic activity. Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expectations. Here George Evans and Seppo Honkapohja bring new explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational expectations paradigm offers the prevailing method to determining expectations, it assumes very theoretical knowledge on the part of economic actors. Evans and Honkapohja contribute to a growing body of research positing that households and firms learn by making forecasts using observed data, updating their forecast rules over time in response to errors. This book is the first systematic development of the new statistical learning approach. Depending on the particular economic structure, the economy may converge to a standard rational-expectations or a "rational bubble" solution, or exhibit persistent learning dynamics. The learning approach also provides tools to assess the importance of new models with expectational indeterminacy, in which expectations are an independent cause of macroeconomic fluctuations. Moreover, learning dynamics provide a theory for the evolution of expectations and selection between alternative equilibria, with implications for business cycles, asset price volatility, and policy. This book provides an authoritative treatment of this emerging field, developing the analytical techniques in detail and using them to synthesize and extend existing research.

Competition Policy

Author : Massimo Motta
Publisher : Cambridge University Press
ISBN 13 : 9780521016919
Total Pages : 650 pages
Book Rating : 4.0/5 (169 download)

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Book Synopsis Competition Policy by : Massimo Motta

Download or read book Competition Policy written by Massimo Motta and published by Cambridge University Press. This book was released on 2004-01-12 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to provide a systematic treatment of the economics of antitrust (or competition policy) in a global context. It draws on the literature of industrial organisation and on original analyses to deal with such important issues as cartels, joint-ventures, mergers, vertical contracts, predatory pricing, exclusionary practices, and price discrimination, and to formulate policy implications on these issues. The interaction between theory and practice is one of the main features of the book, which contains frequent references to competition policy cases and a few fully developed case studies. The treatment is written to appeal to practitioners and students, to lawyers and economists. It is not only a textbook in economics for first year graduate or advanced undergraduate courses, but also a book for all those who wish to understand competition issues in a clear and rigorous way. Exercises and some solved problems are provided.

Hub-and-Spoke Cartels

Author : Luke Garrod
Publisher : MIT Press
ISBN 13 : 0262046202
Total Pages : 303 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Hub-and-Spoke Cartels by : Luke Garrod

Download or read book Hub-and-Spoke Cartels written by Luke Garrod and published by MIT Press. This book was released on 2021-11-16 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive economic and legal analysis of hub-and-spoke cartels, with detailed case studies. A cartel forms when competitors conspire to limit competition through coordinated actions. Most cartels are composed exclusively of firms that would otherwise be in competition, but in a hub-and-spoke cartel, those competitors (“spokes”) conspire with the assistance of an upstream supplier or a downstream buyer (“hub”). This book provides the first comprehensive economic and legal analysis of hub-and-spoke cartels, explaining their formation and how they operate to create and sustain a collusive environment. Sixteen detailed case studies, including cases brought against toy manufacturer Hasbro and the Apple ebook case, illustrate the economic framework and legal strategies discussed. The authors identify three types of hub-and-spoke cartels: when an upstream firm facilitates downstream firms to coordinate on higher prices; when a downstream intermediary facilitates upstream suppliers to coordinate on higher prices; and when a downstream firm facilitates upstream suppliers to exclude a downstream rival. They devote a chapter to each type, discussing the formation, coordination, enforcement, efficacy, and prosecution of these cartels, and consider general lessons that can be drawn from the case studies. Finally, they present strategies for prosecuting hub-and-spoke collusion. The book is written to be accessible to both economists and lawyers, and is intended for both scholars and practitioners.

Collusion

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 358 pages
Book Rating : 4.:/5 (661 download)

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Book Synopsis Collusion by : Fouad Sabry

Download or read book Collusion written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-25 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Collusion The term "collusion" refers to a dishonest agreement or covert collaboration between two or more parties with the intention of restricting open competition by deceiving, misleading, or committing fraud against certain individuals or organizations. Not all instances of collusion are regarded to be criminal. By way of example, by engaging in fraudulent activity or acquiring an unfair edge in the market, it is possible to accomplish goals that are prohibited by law. An agreement between companies or individuals to split a market, establish prices, restrict production, or restrict opportunities is referred to as a market division.It may involve activities such as "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties" . In the eyes of the law, any and all actions caused by cooperation are regarded as invalid. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Collusion Chapter 2: Duopoly Chapter 3: Monopoly Chapter 4: Oligopoly Chapter 5: Perfect competition Chapter 6: Cartel Chapter 7: Price fixing Chapter 8: Cross elasticity of demand Chapter 9: Anti-competitive practices Chapter 10: Barriers to entry Chapter 11: Decartelization Chapter 12: Market power Chapter 13: Non-price competition Chapter 14: Bertrand competition Chapter 15: Cournot competition Chapter 16: Market structure Chapter 17: Market concentration Chapter 18: Competition (economics) Chapter 19: Tacit collusion Chapter 20: Economic law Chapter 21: Profit (economics) (II) Answering the public top questions about collusion. (III) Real world examples for the usage of collusion in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Collusion.

Industry Structure and Pricing

Author : Mark A. Jamison
Publisher : Springer Science & Business Media
ISBN 13 : 1475754566
Total Pages : 212 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis Industry Structure and Pricing by : Mark A. Jamison

Download or read book Industry Structure and Pricing written by Mark A. Jamison and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industry Structure and Pricing: The New Rivalry in Infrastructure extends current economic models by incorporating effects of actual and potential rivalry in markets outside the markets of immediate interest. Focusing on the contestable model, the author shows how diverse patterns of actual and potential rivalry, called multilateral rivalry or MLR, affect the appropriateness of many regulatory policies. It is specifically shown that many conclusions of the contestability literature are overly generous to firms that might want to protect or extend their monopoly positions. While this book's refinement to existing economic theory gives strong results, it is still based on static production functions and demands - integrated to provide a dynamic view of multilateral rivalry.