Publisher Summary The study of oligopolistic industries lies at the heart of the field of
industrial organization. The belief of an individual about the behavior of large firms in …

The paper introduces a class of alternating-move infinite-horizon models of duopoly. The
timing is meant to capture the presence of short-run commitments. Markov perfect …

Many natural competitors are jointly held by a small set of large institutional investors. In the
US airline industry, taking common ownership into account implies increases in market …

The advent of e-commerce has prompted many manufacturers to redesign their traditional
channel structures by engaging in direct sales. The model conceptualizes the impact of …

We examine conditions under which" Veblen effects" arise from the desire to achieve social
status by signaling wealth through conspicuous consumption. While Veblen effects cannot …

David M. Kreps has developed a text in microeconomics that is both challenging and" user-
friendly." The work is designed for the first-year graduate microeconomic theory course and …

This paper focuses on the importance of strategic complementarities in agents' payoff
functions as a basis for macroeconomic coordination failures. Strategic complementarities …

N-identical stores compete by choosing prices for a homogeneous good with constant
marginal costs. Consumers search sequentially with perfect recall. Some consumers have …

Thoroughly revised according to classroom feedback, Industrial Organization: Markets and
Strategies offers an up-to-date and rigorous presentation of modern industrial organization …

Tied sales have a long history of scrutiny under the antitrust laws of the United States. The
primary basis for the condemnation of this practice has been the court's belief in what has …