I present a strategic model of a bilateral oligopoly with asymmetric information to examine (i) the validity of the conjecture of price-taking behavior in such markets as the number of agents becomes large and (ii) the effect of the rate that individual information precision decreases with increased number of agents on convergence to price-taking and efficiency. I show that with downstream comp...

An information-based model is developed where traditional and digital advertising finance the provision of free media goods affect price competition. The economy not efficient. Media are under provided. Additionally, there excessive when ads cannot be perfectly directed toward potential buyers. tax-cum-subsidy policy that overcomes these inefficiencies in an informationally-constrained characte...

The study sought to establish the level of technical, allocative, and economic efficiencies in irrigated onion production southern Ethiopia, as well identify sources inefficiencies. cross-sectional data were obtained from a total 165 random farmers selected Humbo area. parametric stochastic frontier model was used estimate efficiency levels, whilst two-limit Tobit utilized determinants acquired...

This study investigates how headquarters’ involvement affects the efficiency of transfer price negotiations. Although prior research explores autonomous negotiations, evidence suggests that headquarters can become involved in these particularly after they fail. likely intention is to overcome inefficiencies arising from decentralized managers’ inability agree on a price, we suggest such reduce ...

We model the economics of producing content in online social networks such as Facebook and Twitter. We propose a game-theoretic model within which we quantify inefficiencies from contributions by strategic users in online environments. Attention and information are assumed to be the main motivation for user contributions. We treat attention as a mechanism for sharing the profit from consuming i...

The global crisis that began in 2008 reheated the debate on market deregulation as a tool to improve economic performance. This paper addresses the consequences of increased flexibility in goods and labor markets for the conduct of monetary policy in a monetary union. We model a two-country monetary union with endogenous product creation, labor market frictions, and price and wage rigidities. W...

Policy reforms outside agriculture in the early 1990s accelerated growth in per capita incomes and food demand and also improved the terms of trade for the agriculture. Agricultural policies and institutions, traditionally focused on achieving food grain self sufficiency within a closed economy, have, however, been slow to adapt to a new environment of diversifying demand, more open markets, an...