This paper shows that the effects of financial liberalization on the credit market of a small and capital constrained economy depend on the market structure of domestic banks prior to liberalization. Specifically, under perfect competition in the domestic credit market prior to liberalization, liberalization leads to lower domestic interest rates, in turn leading to increased credit penetration...

This paper uses annual data on world oil price and consumption from 1965 to 2006 to calibrate a Hotelling model of optimal nonrenewable resource extraction. Numerical solutions are generated for various specifications of the elasticity of demand for both isoelastic demand and linear demand under each of two possible market structures: perfect competition and monopoly. Prior to the 1973 oil cris...

1 Anton: [email protected]; Biglaiser: [email protected]. We are grateful to the Fuqua Business Associates Fund and Microsoft for …nancial support. We thank Harvard Business School, the Portuguese Competition Authority, and UCSD for their hospitality where some of this research was conducted. We also thank Leslie Marx, Jean Tirole, many colleagues at conferences and seminars, and, espec...

As the market economy system becomes more and perfect, competition among enterprises intense, which also puts forward serious challenges to operation development of enterprises. Scientific management is inexhaustible power enterprise development, strategy, as an important component system, directly affects overall quality enterprise's operation, in turn related improvement comprehensive strengt...

The generator’s competition strategy has become a pressing research field since the opening of power market. In real market situation Generators have to deal with capacity allocation among different markets (i.e. day-ahead spot market, contract market and ancillary service market) and competition strategy optimization simultaneously. However these two interrelated problems have been studied sep...

The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, allowing the determination of whether a given industry is competitive or not. Usually, the perfect competition model is the reference to judge the efficiency of markets. However, there are empirical studies that show that one of the most evident features of global firms is that...

The conventional model of the day-ahead electricity markets employs an energy-based approach to manage competition among players. Under this format, it is assumed that everything (including demand and output power generating units) constant during each hour. This assumption greatly simplifies market, widely incorporated over globe. However, leads mismatches in real-time operation. With increase...

A formulation for the commitment of electric power generators under a deregulated electricity market is proposed. The problem is expressed as a stochastic optimization problem in which the expected profits are maximized while meeting demand and standard operating constraints. First, we show that when an electric power producer has the option of trading electricity at market prices, an optimal u...

It seems that what has been said by now about market and competitiveness do not fit perfectly with competences of getting the best of profit. Sometimes, the classical methods of fundamentals of management do not apply to individual companies that face irregular accommodation on the market. It is high time to replace the perfect business with the right one. New approaches and models may help in ...