Obfuscation in Competitive Markets

Price Bundling in Competitive Markets:

Dynamic Pricing in Competitive Markets

Dynamic pricing of goods in a competitive environment to maximize revenue is a natural objective and has been a subject of research over the years. In this paper, we focus on a class of markets exhibiting the substitutes property with sellers having divisible and replenishable goods. Depending on the prices chosen, each seller observes a certain demand which is satisfied subject to the supply c...

Competitive Markets with Externalities∗

This paper presents a general model of a competitive market with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The model allows production and indivisible goods. Examples illustrate the generality and applicability of the results.

Competitive Markets and Aggregate Information

A frequently asked question is, how informationally efficient are market prices? In answering this question, economists commonly model the price formation process as one of tâtonnement where agents revise their beliefs until a market-clearing price is established. The Walrasian market thus aggregates all relevant information about an asset and yields a strong-form efficient price. A second appr...

Are Health Insurance Markets Competitive?

The United States stands virtually alone among leading industrialized nations in its heavy and increasing reliance on the private insurance sector to intermediate health care for its residents. The assumption underlying this system is that fierce competition among private insurers yields more efficient outcomes, broadly writ (Alain C. Enthoven 1978). However, a comprehensive survey on the state...