Issue 3

September 2014

Price Dispersion in Mortgage Markets

Using transaction-level data on Canadian mortgage contracts, we document an increase in the average discount negotiated off the posted price and in rate dispersion.

Product Line Rivalry and Firm Asymmetry

We extend the Brander and Eaton (1984) model of product line rivalry to study the effects of asymmetry between firms on the equilibrium outcome.

Merger Incentives and the Failing Firm Defense

The merger incentives between profitable firms differ fundamentally from the incentives of a profitable firm to merge with a failing firm.

Do Auctions and Forced Divestitures Increase Competition? Evidence for Retail Gasoline Markets

To foster competition, governments can intervene by auctioning licenses to operate, or by imposing divestitures.

Patent Quality and a Two-Tiered Patent System

In this paper, we study the determinants of patent quality and volume of patent applications when inventors care about perceived patent quality.

The Effect of Graduated Response Anti-Piracy Laws on Music Sales: Evidence from an Event Study in France

Despite the problem that filesharing poses to the creative industries, there is little research on the effectiveness of governmental anti-piracy policies.


A Note on Third Degree Price Discrimination in Intermediate Good Markets

Youping Li

This note studies third degree price discrimination in intermediate good markets.