This paper examines the competitiveness of winner-take-all price competition in homogeneous product oligopoly environments where underlying buyer demands and/or firms’ costs need not be continuous. Our analysis is motivated by the observation that a variety of economic settings have these features. For example, in 1996 an Ivy League university solicited bids from several vendors for its initiat...

According to static models of industrial organization, a rise in competition decreases prices. In this paper, I test whether this conclusion can be reversed in the mobile telecommunications markets where dynamic e ciency e ects might be signi cant. The empirical test relies on the change in the intensity of competition introduced by the entry of the fourth mobile operator in France and the merg...

To better understand the community-wide implications of coastal erosion and erosion management measures to minimize its impacts, we analyzed data on about 1200 properties in nine southeastern U.S. counties. Not only is erosion responsible for hundreds of millions of dollars of property damage each year, the threat of erosion, that is, merely being located in an erosion-prone area, significantly...

A calibrated New Keynesian model of the euro area is used to evaluate stabilization properties alternative monetary policy strategies when natural rate interest low (“new normal”) and probability reaching effective lower bound (ELB) non-negligible. Price level targeting most strategy in terms stabilizing inflation output reducing duration frequency ELB episodes. Temporary price also mitigating ...