作者：Benatia, David; de Villemeur, etienne Billette
作者单位：Universite de Montreal; HEC Montreal; Universite de Lille; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS)
摘要：This article investigates the incentives for firms with market power to manipulate markets by strategically reneging on forward commitments. We first study the behavior of a dominant firm in a two-period model with demand uncertainty. We then use the model's predictions and a machine learning approach to investigate multiple occurrences of reneging on long-term commitments in Alberta's electricity market in 2010-2011. We find that a supplier significantly increased its revenues by strategicall...
作者：Duarte, Marco; Magnolfi, Lorenzo; Roncoroni, Camilla
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; University of Wisconsin System; University of Wisconsin Madison; University of Warwick
摘要：Consumer cooperatives are firms owned by their customers. Although their organizational form should commit these firms not to exploit their market power, in practice, weak governance may allow managers to pursue other objectives. Using data and a structural model, we test whether consumer cooperatives in the Italian supermarket industry act as profit-maximizing firms. We find no significant deviations from profit maximization. Based on a counterfactual exercise, even a mild degree of internali...
