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This working paper presents the findings of research on the relationship between price and quality in consumer service industries in the Washington, D.C. area. The study relies primarily upon consumer

Because of its unique institutional and regulatory features, the generic drug industry provides a useful laboratory for understanding how competition evolves within a market. We exploit these features

This paper analyzes the use of two important human resource practices (self-managed work teams and formal training programs) in U.S. manufacturing. These practices are often used in conjunction with

The past decade has witnessed remarkable developments in the quantitative analysis of horizontal mergers. Increases in computing power and the quantity and quality of data available have substantially

This paper examines the welfare effects of third degree price discrimination by an intermediate good monopolist selling to downstream firms with bargaining power. One of the downstream firms (the

We use the experimental method to compare second-price auctions to "verifiable" multilateral negotiations in which the sole buyer can credibly reveal to sellers the best price offer it currently holds

This paper provides a broad brush treatment of the empirical economics literature regarding the effects of mergers and acquisitions. Much of the literature has direct or indirect implications for

Previous research on collusion in procurement markets uses static mechanism design theory to address the limitations on collusive activity imposed by asymmetric information, but in most instances it

This paper shows that an upstream monopolist that sells to competing downstream firms can profitably use exclusive contracts to deter entry even where scale economies are absent. By offering

This paper analyzes the effects of antidumping and countervailing duty cases initiated from 1990 to 1997 that ended in withdrawn petitions without a suspension agreement or voluntary export restraint

Most analysis of market power assumes that managers act as perfect agents for the shareholders. This paper relaxes this assumption. When managers of a multiproduct firm must exert unobservalbe effort

It is well known that product differentiation increases both prices and profits, other things equal. What is less well understood is how the distribution of consumer preferences affects firms’

In three recent hospital merger cases, the courts concluded that the merged hospital would be unable to increase price profitably because of competition from distant hospitals. In reaching this

When punitive damage awards create publicity, this could affect the behavior of uncompensated victims, which has implications for the optimal punitive damage multiplier. A new adjusted multiplier is

Recent analyses of entry deterrence strategies have required an incumbent's post-entry output or pricing strategy to be profit maximizing. However, most papers have continued to assume that either an

We compare a seller's agency regime, in which agents give sellers information about buyers' willingness to pay, with a buyer's agency regime, in which agents keep buyers' information confidential

I analyze the innovation incentives under monopoly and duopoly provision of horizontally differentiated products purchased via bilateral negotiations, integrating the market structure and innovation

This paper estimates price-marginal cost mark-ups for Canadian manufacturing industries during the 1970s in order to assess the impact of import competition on domestic market power. The results are

We compare the well-known first-price auction with a common but previously unexamined exchange process that we term "multilateral negotiations." In multilateral negotiations, a buyer solicits price

Recent theoretical work on retail pricing dynamics suggests that retailers frequently change prices of specific items, even when their costs are unchanged. We extend this theory to explain which