This paper studies a model of interpersonal bundling, in which a monopolist offers a good for sale under a regular price and a group purchase discount if the number of consumers in a group– the bundle size– belongs to some menu of intervals. We find that this is often a profitable selling strategy in response to demand uncertainty, and it can achieve the highest profit among all possible sellin...

The Basel II IRB approach revisited: do we use the correct model?

In socio-economic sciences the RePEc network (Research Papers in Economics) has become an essential source for the gathering and the spread of both existing and new economic research. Furthermore, it is currently the largest bibliometric database in economic sciences containing 33 different indicators for more than 30,000 economists. Based on this bibliographic information RePEc calculates well...

This paper studies a model in which some consumers shop on the basis of price alone, without attention to potential differences in product quality. A firm may offer a low-quality product to exploit these inattentive consumers. In the unique symmetric equilibrium of the model, firms choose prices with mixed strategies , similarly to Varian (1980) in which some consumers purchase from a random se...

Examining a state-dependent pricing model in the presence of menu costs and dynamic duopolistic interactions, this paper claims that the assumption regarding market structure is crucial for identifying the menu costs for price changes. Prices in a dynamic duopolistic market can be more rigid than those in more competitive markets, such as a monopolistic-competition market. Therefore, the estima...

This article updates Kelly and Bruestle (2011) by illustrating how publication trends in different subject categories in economics evolved from 2007 to 2013. Using data from RePEc we show that the largest increase in the relative share was for articles published in JEL category Q (“Agricultural and Natural Resource Economics, Environmental and Ecological Economics”) over this period. Furthermor...

We provide a simple necessary and suffi cient condition for when a multiproduct demand system can be generated from a discrete choice model with unit demands.

We develop an endogenous growth model driven by externalities of both private capital and public infrastructure.

The objective of this research is to provide a statistical measurement to predict the likely winners of international football tournaments with particular reference to the Euro 2008 football tournament. This research argues that there exists a positive relationship between the competitive balance and success in international football tournaments. The level of the competitive balance in a domest...