When identical firms pay a fee to list prices at a price comparison site and can price discriminate between consumers who do and don’t use the site, prices listed at the site are dispersed but lower than at firms’ own websites. (JEL Numbers: D4, D8, M3, L13.

We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn sequences in two dynamic models of markets, we demonstrate the existence of equilibria in which prices fluctuate in a pattern that is independent of the fundamentals and that can be recognized only by the more competent agents. (JEL: C7, D4,

Abstract The aim of the paper is to compare forecasting performance a class statedependent autoregressive (SDAR) models for univariate time series with two alternative families nonlinear models, such as SETAR and GARCH models. study conducted on US GDP growth rate using quarterly data. Two methods forecast comparison are employed. first method consists in evaluation average by measures root mea...

In the jungle, power and coercion govern the exchange of resources. We study a simple, stylized model of the jungle that mirrors an exchange economy. We define the notion of jungle equilibrium and demonstrate that a number of standard results of competitive markets hold in the jungle. JEL Classification: C7, D4, S477, B201

Political stock markets (PSM) are sometimes seen as substitutes for opinion polls. On the bases of a behavioral model, specific preconditions were drawn out under which manipulation in PSM can weaken this argument. Evidence for manipulation is reported from the data of two separate PSM during the Berlin 99 state elections. JEL Classification: C93, D4, G1