A market is liquid if no individual’s actions have a big effect on the prices of goods traded in that market. Perfectly competitive markets are therefore perfectly liquid. It is well known that market liquidity can be achieved by increasing the number of traders so that individual trades are small compared to total trades. We show that even when there are only few traders, market liquidity can ...

The Internet has been playing a key role to prolifically reach the target market. Simultaneously, the implications of Relationship Marketing (RM) to establish, maintain and enhance competitive advantage in the traditional marketplace are widely recognized. However, because of the online, ongoing, and on time communication approach of the Internet (the market space), the application of RM in the...

Market share attraction models are useful tools for analyzing competitive structures. The models can be used to infer cross-effects of marketing-mix variables, but also the own effects can be adequately estimated while conditioning on competitive reactions. Important features of attraction models are that they incorporate that market shares sum to unity and that the market shares of individual ...

This paper investigates the relationships between market, learning and brand orientation with competitive advantage and organisational performance in the context of the UK retail industry. The results indicate that competitive advantage contributes to strategic effectiveness and mediates the relationship between learning and brand orientation and strategic effectiveness. No significant relation...

Original scientific paper Firms realize that the selection of an appropriate competitive market strategy is essential to create value for customers and consequently to gain competitive advantage over their competitors. The review of relevant literature reveals that the competitive market strategy should be adopted with regard to both internal and external factors that impact on the firm’s perf...

The Problem: This project is intended to study the behavior of intelligent market-makers in a competitive environment. Our artificial financial market can be populated by various types of trading agents with varying levels of intelligence. This provides a framework for testing the behavior of simple and adaptive market-makers who compete with each other for profits, and for comparing price beha...

1 Market-based transmission investments can play a role in competitive electricity markets. A short-term electricity market coordinated by a system operator provides a foundation for a competitive electricity market. In this setting, locational price differences define the opportunity cost of transmission. The potential to arbitrage these same price differences provides a market incentive for t...

An oligopoly model with endogenous sunk costs illustrates the trade off between ex ante extraction of oligopoly rents and market entry of firms in the mobile telecommunications industry. Competitive bidding for radio frequency licences provides scope for setting market structure endogenously: the higher the licence fee, the lower the number of competitive firms sustained by the market. High lic...

over the past three decades vertical price transmission analysis has been the subject of considerable attention in applied agricultural conomics. it has been argued that the existence of asymmetric price transmission generates rents for marketing and processing agents. retail prices allegedly move faster upwards than downwards in response to farm level pricemovements. this is an important issue...