Empirical analysis of countervailing power in business-to-business bargaining

This paper provides a comprehensive econometric framework for the empirical analysis of countervailing power. It encompasses the two main features of pricing schemes in business-to-business relationships: nonlinear price schedules and bargaining over rents. Disentangling them is critical to the empirical identification of countervailing power. Testable predictions from the theoretical analysis for a pragmatic reduced form empirical pricing model are delineated. This model is readily implementable on the basis of transaction data, routinely collected by antitrust authorities and illustrated using data from the UK brick industry. The paper emphasizes the importance of controlling for endogeneity of volumes and established supply chains and for heterogeneity across buyers and sellers due to intrinsically unobservable outside options.

Deriving AGN properties from radio CP and LP

We report multi-frequency circular polarization measurements for the radio source 0056-00 taken at the Effelsberg 100-m radiotelescope. The data reduction is based on a new calibration procedure that allows the contemporary measurement of the four Stokes parameters with single-dish radiotelescopesComment: 2 pages, Proceeding of "IAU Symposium No.259. Cosmic Magnetic Fields from planets, to stars and galaxies

Where do prices come from? Sociological approaches to price formation

The article provides an overview of the state of the art of sociological research on price formation. The dominant trait of the sociological approach to prices is to understand price formation not as the outcome of individual preferences but as the result of the social and political forces operating within the market field. The article proceeds from the concept of market fields and is organized around the three dominant approaches in economic sociology: the network approach, the institutional approach, and the cultural approach. -- Der Artikel gibt einen Überblick über den Forschungsstand zum Thema Preisbildung in der Soziologie. Ausgangspunkt der Betrachtung von Preisen aus soziologischer Perspektive ist, diese nicht als das Resultat individueller Präferenzen zu verstehen, sondern als Ausdruck der sozialen und politischen Kräfte in Märkten. Der Artikel orientiert sich an dem Konzept der Marktfelder und ist anhand der drei Hauptrichtungen der Wirtschaftssoziologie strukturiert: des Netzwerkansatzes, des institutionellen Ansatzes und des kulturellen Ansatzes.

Heterogeneity and the nonparametric analysis of consumer choice: conditions for invertibility

This paper considers structural nonparametric random utility models for continuous choice variables. It provides sufficient conditions on random preferences to yield reduced- form systems of nonparametric stochastic demand functions that allow global invertibility between demands and random utility components. Invertibility is essential for global identifcation of structural consumer demand models, for the existence of well-specified probability models of choice and for the nonparametric analysis of revealed stochastic preference

A micro-econometric approach to geographic market definition in local retail markets: demand side considerations

This paper formalizes an empirically implementable framework for the definition of local antitrust markets in retail markets. This framework rests on a demand model that captures the trade-off between distance and pecuniary cost across alternative shopping destinations within local markets. The paper develops, and presents estimation results for, an empirical demand model at the store level for groceries in the UK

Empirical analysis of countervailing power in business-to-business bargaining

This paper provides a comprehensive econometric framework for the empirical analysis of countervailing power. It encompasses the two main features of pricing schemes in business-to-business relationships: nonlinear price schedules and bargaining over rents. Disentangling them is critical to the empirical identification of countervailing power. Testable predictions from the theoretical analysis for a pragmatic reduced form empirical pricing model are delineated. This model is readily implementable on the basis of transaction data, routinely collected by antitrust authorities and illustrated using data from the UK brick industry. The paper emphasizes the importance of controlling for endogeneity of volumes and established supply chains and for heterogeneity across buyers and sellers due to intrinsically unobservable outside options

In the shadow illegal markets and economic sociology

Illegal markets differ from legal markets in many respects. Although illegal markets have economic significance and are of theoretical importance, they have been largely ignored by economic sociology. In this article we propose a categorization for illegal markets and highlight reasons why certain markets are outlawed. We perform a comprehensive review of the literature to characterize illegal markets along the three coordination problems of value creation, competition, and cooperation. The article concludes by appealing to economic sociology to strengthen research on illegal markets and by suggesting areas for future empirical research. -- Illegale Märkte unterscheiden sich in vielerlei Hinsicht von legalen Märkten. Trotz ihres großen wirtschaftlichen Gewichts und ihrer theoretischen Bedeutung blieben sie in der Wirtschaftssoziologie bislang weitgehend unbeachtet. Dieses Papier schlägt eine Kategorisierung illegaler Märkte vor und diskutiert die Gründe für ihr Verbot. Auf der Grundlage einer umfassenden Literaturauswertung werden die Strukturmerkmale illegaler Märkte anhand der drei Koordinierungsprobleme der Wertbildung, des Wettbewerbs und der Kooperation dargestellt. Das Papier schließt mit Empfehlungen für zukünftige empirische Forschung.