One of the main challenges faced in design and construction phases of tunneling projects is the determination of maximum allowable advance step to maximize excavation rate and reduce project delivery time. Considering the complexity of determining this factor and unexpected risks associated with inappropriate determination of that, it is necessary to employ a method which is capable of accounti...

This paper examines competition in e-markets by comparing price levels and price dispersion in the on-line music market. The data consists of price information on CDs pure-play Internet and hybrid firms in North American and European markets. The sellers are divided in groups according to a geographical location, a brand valuation and a variety of product offerings. We find that pure price leve...

The paper studies equilibrium pricing in a product market for an indivisible good where buyers search for sellers. Buyers search sequentially for sellers, but do not meet every sellers with the same probability. Specifically, a fraction of the buyers’ meetings lead to one particular large seller, while the remaining meetings lead to one of a continuum of small sellers. In this environment, the ...

In a model with two buyers and sellers we consider the choice of sales mechanism from three possibilities: posted prices, and auctions with and without reserve prices. With homogenous goods, sellers’ expected revenues are highest when both sellers auction with reserve prices – 33% higher than if posting prices and 100% higher than if auctioning without reserve prices. When sellers can choose th...