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Monographien

All-Pay Competition with Captive Consumers

We study a game in which two firms compete in quality to serve a market consisting of consumers with different initial consideration sets. If both firms invest below a certain quality threshold, they only compete for those consumers already aware of their existence. Above this threshold, a firm is visible to all and the highest quality attracts all consumers. In equilibrium, firms do not choose their ...

Lancaster: Lancaster University Management School, 2019, 31 S.
(Economics Working Paper Series ; 18)
| Renaud Foucart, Jana Friedrichsen
Brown Bag Seminar Cluster Industrial Economics

Evaluation of Bidding Groups in First-price Auctions

Abstract: In this paper, we analyze bidding groups that participate in procurement auctions. Our main question is to ask, whether in the absence of the joint bid, there could have been two or more independent bids and if yes, these bids yield a different final outcome. We utilize data from the Austrian construction sector and estimate models of first-price sealed-bid auctions with endogenous entry...

11.10.2019| Christine Zulehner, University of Vienna
Brown Bag Seminar Cluster Industrial Economics

Incumbency Advantage: Theory and Possible Applications

Joanna and Christoph will do a joint IOBB to exchange ideas on a possible project on incumbency advantage and mergers in procurement auctions. In the first part of the seminar, they will discuss possible theoreotical explanations and consequences of incumbency advantage. This will open the floor for discussion on how data from procurement auctions in the French urban transport industry can be...

01.11.2019| Christoph Wolf, Bocconi University, Joanna Piechucka
Brown Bag Seminar Cluster Industrial Economics

Choosing between Explicit Cartel Formation and Tacit Collusion – An Experiment

Abstract: Antitrust authorities try to detect and sanction existing cartels and hinder the formation of new ones. Firms nevertheless try to collude while avoiding sanctions, for example by colluding tacitly instead of explicitly forming a cartel. In this paper, we focus on differences in the communication of firms that either form an explicit cartel or try to collude tacitly. The latter may still...

08.11.2019| Maximilian Andres, University of Potsdam
Monographien

Three Essays on the Economics of Merger Control

Berlin: TU Berlin, 2019, XIII, 207 S. | Pauline Affeldt
Forschungsprojekt

Biased beliefs in dynamic decisions

In many dynamic decision problems, the relevant market prices and budget constraints are random variables whose realizations lie in the future. This makes optimal decision-making difficult as optimality requires an accurate quantification and interpretation of the dynamic processes operating in the market. The studies in this project model and test the agents’ expectations about relevant...

Aktuelles Projekt| Staat
Forschungsprojekt

Rationalität und Wettbewerb - Biased beliefs in dynamic decisions

In many dynamic decision problems, the relevant market prices and budget constraints are random variables whose realizations lie in the future. This makes optimal decision-making difficult as optimality requires an accurate quantification and interpretation of the dynamic processes operating in the market. The studies in this project model and test the agents’ expectations about relevant...

Aktuelles Projekt| Staat
Externe referierte Aufsätze

An Auction Story: How Simple Bids Struggle with Uncertainty

Short-term electricity markets are key to an efficient production by generation units. We develop a two-period model to assess different bidding formats to determine for each bidding format the optimal bidding strategy of competitive generators facing price-uncertainty. We compare the results for simple bidding, block bidding and multi-part bidding. We find that even under optimal simple and block ...

In: Energy Economics 89 (2019), 104784, 16 S. | Jörn C.Richstein, Casimir Lorenz, KarstenNeuhoff
Zeitungs- und Blogbeiträge

Der Staat darf den Wettbewerb am Himmel nicht verzerren

In: Der Tagesspiegel (04.05.2020), [Online-Artikel] | Tomaso Duso
DIW Wochenbericht 15/16 / 2020

Neues länderübergreifendes Wertpapier wäre elegantester Weg zu geringerem Home Bias: Interview

2020| Dorothea Schäfer, Erich Wittenberg
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