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RAND Journal of Economics articles from December 22 1999
An academic journal featuring articles on macroeconomics. Focuses on industrial organization, regulation, law and economics. Includes empirical and theoretical papers analyzing market behavior and public policy.
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RAND Journal of Economics archives from December 22 1999
The value of commitment with imperfect observability and private information.(testing of economic models)
December 22, 1999... The idea that commitment is valuable plays a key role in many economic models. However, Bagwell (1995) has shown that commitment may have no value if there is (even a slight) noise in the observation of the leader's action, thus casting doubt...
Excess entry, vertical integration, and welfare.
December 22, 1999... This article provides a systematic analysis of the welfare effects of vertical integration by a monopolist input supplier into a monopolistically competitive downstream industry. We give sufficient conditions on consumer preferences that lead...
Dynamic competition with customer recognition.
December 22, 1999... In many markets firms have some information about their customers resulting from the consumers' past choice behavior. Given this information, firms can better target their market practices with respect to their customers. This article considers...
Equilibrium price dispersion under demand uncertainty: the roles of costly capacity and market structure.
December 22, 1999... When capacity is costly and prices are set in advance, firms facing uncertain demand will sell output at multiple prices and limit the quantity available at each price. I show that the optimal price strategy of a monopolist and the unique...
Hush money.(settlement bargaining techniques)
December 22, 1999... We provide a simple incomplete-information model wherein an initially uninformed plaintiff makes a menu of settlement demands (one of which involves confidentiality) of the informed defendant. The defendant is informed about both his...
Monopolistic competition and the diffusion of new technology.
December 22, 1999... This article analyzes the adoption and diffusion of new technology in a market for a differentiated product with monopolistic competition. I show that in a noncooperative equilibrium ex ante identical firms adopt a new technology at different...
Intertemporal mixed bundling and buying frenzies.
December 22, 1999... By initially selling goods only in bundles and subsequently selling unsold units individually, a multiproduct seller can create a buying frenzy in which his profit is higher than it would be if he sold all units individually at their market...
Pricing, product diversity, and search costs: a Bertrand-Chamberlin-Diamond model.
December 22, 1999... We study price competition in the presence of search costs and product differentiation. The limit cases of the model are the "Bertrand Paradox," the "Diamond Paradox," and Chamberlinian monopolistic competition. Market prices rise with search...
Consumer strategies limiting the monopolist's power: multiple and joint purchases.
December 22, 1999... I characterize the menu of bundles (price-quantity combinations) offered by a monopolist when consumers can buy several bundles, share bundles with others, or do both, in a two-type setting. I find that although perfect arbitrage prevents any...