Open Access. Powered by Scholars. Published by Universities.®

Industrial Organization Commons

Open Access. Powered by Scholars. Published by Universities.®

1,342 Full-Text Articles 1,148 Authors 1,027,498 Downloads 71 Institutions

All Articles in Industrial Organization

Faceted Search

1,342 full-text articles. Page 36 of 37.

The Gettysburg Economic Review, Volume 4, Spring 2010, 2010 Gettysburg College

The Gettysburg Economic Review, Volume 4, Spring 2010

Gettysburg Economic Review

No abstract provided.


Iso Net Surplus Collection And Allocation In Wholesale Power Markets Under Lmp, Hongyan Li, Leigh Tesfatsion 2010 ABB Inc.

Iso Net Surplus Collection And Allocation In Wholesale Power Markets Under Lmp, Hongyan Li, Leigh Tesfatsion

Economics Working Papers (2002–2016)

This study uses five-bus and 30-bus test cases to explore ISO net surplus (congestion rent) collections and allocations in wholesale power markets with grid congestion managed by locational marginal prices (LMPs). Price-sensitivity of demand and generator learning capabilities are taken as experimental treatment factors. A key finding is that conditions resulting in greater generator capacity withholding, hence higher and more volatile LMPs, also result in greater ISO net surplus collections that can be substantial in size. A key conclusion is that ISO net surplus collections should be used pro-actively to mitigate the conditions encouraging generator capacity withholding and hence high ...


The Law Of Vertical Integration And The Business Firm: 1880-1960, Herbert J. Hovenkamp 2010 University of Pennsylvania Law School

The Law Of Vertical Integration And The Business Firm: 1880-1960, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Vertical integration occurs when a firm does something for itself that it could otherwise procure on the market. For example, a manufacturer that opens its own stores is said to be vertically integrated into distribution. One irony of history is that both classical political economy and neoclassicism saw vertical integration and vertical contractual arrangements as much less threatening to competition than cartels or other horizontal arrangements. Nevertheless, vertical integration has produced by far the greater amount of legislation at both federal and state levels and has motivated many more political action groups. Two things explain this phenomenon. First, while economists ...


The Obama Administration And Section Two Of The Sherman Act, Herbert J. Hovenkamp 2010 University of Pennsylvania Law School

The Obama Administration And Section Two Of The Sherman Act, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

During the administration of President George W. Bush, the Antitrust Division was not enthusiastic about use of §2 of the Sherman Act to pursue anticompetitive single-firm conduct. Indeed, its most prominent contribution on the issue was the Antitrust Division’s §2 Report, which the Obama Antitrust Division withdrew only eight months after it was issued.This withdrawal was entirely in keeping with candidate Obama’s repeated promises to reinvigorate antitrust enforcement.

This essay analyzes the current state of antitrust and makes recommendations concerning structures and practices where increased §2 enforcement is warranted and those where it is not. Wise use ...


Financial Risk Management In Restructured Wholesale Power Markets: Concepts And Tools, Nanpeng Yu, Abhishek Somani, Leigh Tesfatsion 2010 Iowa State University

Financial Risk Management In Restructured Wholesale Power Markets: Concepts And Tools, Nanpeng Yu, Abhishek Somani, Leigh Tesfatsion

Economics Presentations, Posters and Proceedings

The goal of this tutorial is three-fold: to facilitate cross-disciplinary communication among power engineers and economists by explaining and illustrating basic financial risk management concepts relevant for wholesale power markets (WPMs); to illustrate the complicated and risky strategic decision making required of power traders and risk managers operating in multiple interrelated submarkets comprising modern WPMs; and to briefly discuss the potential of agent-based modeling for the study of this decision making.


Integrated Retail And Wholesale Power System Operation With Smart-Grid Functionality, Dionysios C. Aliprantis, Scott Penick, Leigh Tesfatsion 2010 Iowa State University

Integrated Retail And Wholesale Power System Operation With Smart-Grid Functionality, Dionysios C. Aliprantis, Scott Penick, Leigh Tesfatsion

Economics Presentations, Posters and Proceedings

Our research team is developing an agent-based test bed for the integrated study of retail and wholesale power markets operating over transmission and distribution networks with smart-grid functionality. This test bed seams together two existing test beds, the AMES Wholesale Power Market Test Bed and the GridLAB-D distribution platform. As a first step, we have designed an integrated retail/wholesale market module specifically based on the ERCOT (Texas) energy region, and we are using simplified versions of this module to study potential retail consumer response to real-time-pricing contracts supported by advanced metering. This study reports on the latter work.


Global Sensitivity Analysis For The Short-Term Prediction Of System Variables, Qun Zhou, Leigh Tesfatsion, Chen-Ching Liu 2010 Iowa State University

Global Sensitivity Analysis For The Short-Term Prediction Of System Variables, Qun Zhou, Leigh Tesfatsion, Chen-Ching Liu

Economics Presentations, Posters and Proceedings

Abstract: Short-term prediction of system variables with respect to load levels is highly important for market operations and demand response programs in wholesale power markets with congestion managed by locational marginal prices (LMPs). Previous studies have conducted local sensitivity analyses for LMPs at specific system operating points. This study undertakes a more global analysis of system variable sensitivities when LMPs are derived from DC optimal power flow solutions for day-ahead energy markets. The possible system states are first partitioned into subsets (“system patterns”) based on relatively slow-changing attributes. It is next established analytically that there is a fixed linear-affine mapping ...


Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock 2010 University of Illinois

Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock

Economics Publications

The production literature has shown that inputs such as fertilizer can be defined as riskincreasing. However, farmers also consistently overapply nitrogen. A model of optimal input use under uncertainty is used to address this paradox. Using experimental data, a stochastic production relationship between yield and soil nitrate is estimated. Numerical results show that input uncertainty may cause farmers to overapply nitrogen. Survey data suggest that farmers are risk averse, but prefer small chances of high yields compared to small chances of crop failures when expected yields are equivalent. Furthermore, yield risk and yield variability are not equivalent.


Harvard, Chicago And Transaction Cost Economics In Antitrust Analysis, Herbert J. Hovenkamp 2010 University of Pennsylvania Law School

Harvard, Chicago And Transaction Cost Economics In Antitrust Analysis, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Since Oliver Williamson published Markets and Hierarchies in 1975 transaction cost economics (TCE) has claimed an important place in antitrust, avoiding the extreme positions of the two once reigning schools of antitrust policy. At one extreme was the “structural” school, which saw market structure as the principal determinant of poor economic performance. At the other extreme was the Chicago School, which also saw the economic landscape in terms of competition and monopoly, but found monopoly only infrequently and denied that a monopolist could “leverage” its power into related markets. Since the 1970s both the structural and Chicago positions have moved ...


Quantifying The Economic Effects Of Hypoxia On A Fishery For Brown Shrimp Farfantepenaeus Aztecus, Ling Huang, Martin Smith 2009 University of Connecticut - Storrs

Quantifying The Economic Effects Of Hypoxia On A Fishery For Brown Shrimp Farfantepenaeus Aztecus, Ling Huang, Martin Smith

Ling Huang

No abstract provided.


Monitoring Managers Through Corporate Compliance Programs, Charles Angelucci, Martijn Han 2009 Humboldt-Universität zu Berlin, Institut für Mikroökonomische Theorie

Monitoring Managers Through Corporate Compliance Programs, Charles Angelucci, Martijn Han

Martijn A. Han

Compliance programs entail monitoring of employees' behavior with the claimed objective of fighting corporate crime. (Competition) Authorities promote such intra-firm monitoring. In a three-tier hierarchy model, authority-shareholder-manager, we study the impact of monitoring through a compliance program on contracting within the firm and the authority's optimal sanctions and leniency policy. We find that compliance programs are beneficial in the fight against corporate crime if and only if the managerial sanction is low. Moreover, when the shareholder blows the whistle, the authority optimally grants partial corporate leniency, while not granting individual leniency to the involved employees. Conversely, when the employee ...


Trade Bans, Imperfect Competition, And Welfare: Bse And The U.S. Beef Industry, Dimitrios Pangiotou, Azzeddine Azzam 2009 University of Nebraska-Lincoln

Trade Bans, Imperfect Competition, And Welfare: Bse And The U.S. Beef Industry, Dimitrios Pangiotou, Azzeddine Azzam

Azzeddine Azzam

Between May 2003 and July 2005, the U.S. beef industry faced a total ban on Canadian cattle imports following the discovery of BSE in Canada in May 2003 and restrictions on U.S. beef exports following the discovery of BSE in the United States in December 2003. When the United States reopened its border to Canadian cattle in July 2005, shipments were restricted to cattle less than 30 months of age. The total ban on Canadian cattle imports and restrictions on U.S. beef exports overlapped between January 2004 and July 2005. The restrictions on Canadian cattle imports and ...


Exclusivity, Competition And The Irrelevance Of Internal Investment, Catherine de Fontenay, Joshua Gans, Vivienne Groves 2009 Melbourne Business School

Exclusivity, Competition And The Irrelevance Of Internal Investment, Catherine De Fontenay, Joshua Gans, Vivienne Groves

Catherine de Fontenay

This paper considers the effect of exclusive contracts on investment decisions in a market with two upstream and two downstream firms. Segal and Whinston’s (2000) irrelevance result is generalized and it is shown that exclusive contracts have no effect on the equilibrium level of internal investment for the contracted parties when competition exists in both the upstream and downstream markets. Furthermore, by considering a more competitive environment we are able to demonstrate that strongly internal investment by rival upstream-downstream bargaining pairs is similarly unaffected by the presence of exclusive contracts.


Juridische Kaders In De Sociale Economie: Een Rechtseconomische Doorlichting, Astrid Coates, Wim Van Opstal 2009 Universiteit Antwerpen

Juridische Kaders In De Sociale Economie: Een Rechtseconomische Doorlichting, Astrid Coates, Wim Van Opstal

Wim Van Opstal

De sociale economie hanteert in ons land hoofdzakelijk het vzw-statuut en bestaat traditioneel ook uit (erkende) coöperatieve vennootschappen. In 1995 werd hier ook de vennootschap met sociaal oogmerk aan toegevoegd. In dit artikel bespreken we enkele randvoorwaarden voor een geslaagd ontwerp en een succesvolle implementatie van juridische kaders voor de sociale economie. Vervolgens bespreken we bondig de essentiële kenmerken van deze drie juridische kaders. We besluiten met een vergelijkende analyse en belichten daarbij de belangrijkste relatieve troeven en zwaktes ten opzichte van elkaar.


Technical Appendix To Supranational Agency: A Solution For Conflict In International Mergers?, Poonam Mehra 2009 NITIE

Technical Appendix To Supranational Agency: A Solution For Conflict In International Mergers?, Poonam Mehra

Poonam Singh Mehra

This note includes the general model and technical proofs of the paper titled “Supranational Agency: A Solution for Conflicts in International Mergers”. This paper develops a two Country three Firm model to compare the possibilities of conflict between competition authorities of different countries over the review of a merger under different welfare standards: national, consumer, and global. Use of transfer payment under the global welfare standard to ensure a conflict free efficient outcome is also explored.


Radiografía De La Brecha Digital En Chile: ¿Se Justifica La Intervención Del Estado?, Claudio A. Agostini, Manuel Willington 2009 Universidad Adolfo Ibañez

Radiografía De La Brecha Digital En Chile: ¿Se Justifica La Intervención Del Estado?, Claudio A. Agostini, Manuel Willington

Claudio A. Agostini

En las últimas décadas la aceleración del desarrollo de las tecnologías de información y comunicación —en particular de Internet y el acceso a través de conexiones de banda ancha— ha generado transformaciones importantes en las sociedades. Sin embargo, especialmente en los países subdesarrollados y en desarrollo, el acceso a estas tecnologías y a sus beneficios no es parejo y hay diferencias significativas entre distintos grupos de la población. Esta llamada "brecha digital" ha llevado a muchos países, y Chile no ha sido la excepción, a preocuparse de promover el acceso a estas tecnologías. Así, hace ya varios años se crearon ...


Costly Research Joint Ventures: The Role Of Coordination Costs, Rod Falvey, Joanna Poyago-Theotoky, Khemarat Talerngsri Teerasuwannajak 2009 Bond University

Costly Research Joint Ventures: The Role Of Coordination Costs, Rod Falvey, Joanna Poyago-Theotoky, Khemarat Talerngsri Teerasuwannajak

Joanna Poyago-Theotoky

We consider a simple oligopoly model where firms engage in cost-reducing R&D and compare two R&D regimes: R&D competition and R&D cooperation where firms can enter in a Research Joint Venture (RJV). We introduce coordination costs for the RJV and examine how these affect the equilibrium outcomes. Further, we address the question of the equilibrium versus the optimal size of the RJV. For a given size of the RJV, its members decrease their own R&D as the anticipated coordination costs increase. This results in lower output and profits. On the contrary, the non-RJV firms increase ...


Demutualization Of Stock Exchanges, Poonam Mehra 2009 NITIE

Demutualization Of Stock Exchanges, Poonam Mehra

Poonam Singh Mehra

No abstract provided.


Third-Degree Price Discrimination, Konstantinos Serfes, Qihong Liu 2009 Drexel University

Third-Degree Price Discrimination, Konstantinos Serfes, Qihong Liu

Konstantinos Serfes

No abstract provided.


Licensing And Patent Protection, Aniruddha Bagchi, Arijit Mukherjee 2009 Kennesaw State University

Licensing And Patent Protection, Aniruddha Bagchi, Arijit Mukherjee

Aniruddha Bagchi

We show the impact of technology licensing on optimal patent policy. Strong patent protection that eliminates imitation may not be the equilibrium outcome in the presence of licensing. Depending on the cost of innovation, licensing may either increase or reduce the strength of the patent protection.


Digital Commons powered by bepress