Research classified by Journal of Economic Literature (JEL) codes

2026

• Rabah Amir & Igor V. Evstigneev & Valeriya Potapova, 2026, "Unbeatable Strategies in Cournot Duopoly," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), volume 14, issue 1, pages 1-12, June, DOI: 10.1007/s40505-025-00305-0.
• Di Wu & Leonard F. S. Wang & Jen-Yao Lee & Haiyang Hu, 2026, "Pass-through and tax incidence in Cournot duopoly with loan commitment," The Japanese Economic Review, Springer, volume 77, issue 1, pages 89-101, January, DOI: 10.1007/s42973-024-00160-x.
• Halvor Mehlum, 2026, "Price discrimination in a double horizontal differentiated duopoly market," The Japanese Economic Review, Springer, volume 77, issue 1, pages 69-87, January, DOI: 10.1007/s42973-024-00184-3.
• Prateek Sharma, 2026, "Bank branch proximity and deposit rate dynamics," SN Business & Economics, Springer, volume 6, issue 1, pages 1-22, January, DOI: 10.1007/s43546-025-01033-0.
• Jan Eeckhout & Chunyang Fu & Wenjian Li & Xi Weng, 2026, "Optimal Taxation and Market Power," American Economic Review, American Economic Association, volume 116, issue 1, pages 119-163, January, DOI: 10.1257/aer.20211445.
• Sen Neelanjan & Sinha Uday Bhanu & Vaishnav Pattuvanmar Veettil, 2026, "Endogenous Merger Under Product Differentiation and Price Competition: The Role of High-Quality Producer," The B.E. Journal of Economic Analysis & Policy, De Gruyter, volume 26, issue 1, pages 1-40, DOI: 10.1515/bejeap-2024-0370.
• Färe, Rolf & Karagiannis, Giannis, 2026, "A note on measuring multi-product market power using the lerner index," Economics Letters, Elsevier, volume 259, issue C, DOI: 10.1016/j.econlet.2025.112798.
• Brown, David P. & Eckert, Andrew & Silveira, Douglas, 2026, "Wholesale price prediction: The role of information and transparency," Energy Policy, Elsevier, volume 209, issue PA, DOI: 10.1016/j.enpol.2025.114975.
• Milliou, Chrysovalantou, 2026, "Outsourcing without cost advantages," International Journal of Industrial Organization, Elsevier, volume 104, issue C, DOI: 10.1016/j.ijindorg.2025.103245.
• Groh, Carl-Christian, 2026, "Competitive price discrimination, imperfect information, and consumer search," Journal of Economic Theory, Elsevier, volume 231, issue C, DOI: 10.1016/j.jet.2025.106133.
• Badra, Yassine & Chopard, Bertrand & Liu, Huizhong, 2026, "R&D cooperation and spillovers: When do research joint ventures improve welfare?," Mathematical Social Sciences, Elsevier, volume 139, issue C, DOI: 10.1016/j.mathsocsci.2025.102489.
• Julien, Ludovic A. & Yebarth, Gagnie P., 2026, "A note on Pareto-optimal taxation mechanism in noncooperative strategic bilateral exchange," Mathematical Social Sciences, Elsevier, volume 139, issue C, DOI: 10.1016/j.mathsocsci.2025.102492.
• Frondel, Manuel & Thiel, Patrick & Vance, Colin, 2026, "The distributional consequences of tax pass-through: The case of Germany's fuel tax discount," Regional Science and Urban Economics, Elsevier, volume 117, issue C, DOI: 10.1016/j.regsciurbeco.2025.104183.
• Rupp, Nicholas G., 2026, "Drip pricing and costly search: Evidence from the airline industry," Transport Policy, Elsevier, volume 175, issue C, DOI: 10.1016/j.tranpol.2025.103895.
• Henrekson, Magnus & Persson, Lars, 2026, "Why Is Competition in the European Football Market Failing, and What Should Be Done about It?," Working Paper Series, Research Institute of Industrial Economics, number 1548, Jan.
• Kangsik Choi, 2026, "Cross-ownership and endogenous managerial delegation in Bertrand competition," Journal of Economics, Springer, volume 147, issue 1, pages 1-22, March, DOI: 10.1007/s00712-025-00921-1.
• Rui Huang & Qinglong Gou & Juzhi Zhang, 2026, "Participation of Variable Renewable Generators in Forward Markets: A Game-Theoretic Analysis," The Energy Journal, , volume 47, issue 1, pages 165-192, January, DOI: 10.1177/01956574251368288.
• Karl-Martin Ehrhart & Anselm Eicke & Lion Hirth & Fabian Ocker & Marion Ott & Ingmar Schlecht & Runxi Wang, 2026, "Congestion Management Games in Electricity Markets," The Energy Journal, , volume 47, issue 1, pages 77-108, January, DOI: 10.1177/01956574251365606.

2025

• Betancourt-Gómez, Michel Eduardo, 2025, "Examinando los patrones de especialización vertical y concentración industrial con un modelo de insumo-producto no lineal," El Trimestre Económico, Fondo de Cultura Económica, volume 92, issue 365, pages 159-181, enero-mar, DOI: https://doi.org/10.20430/ete.v92i36.
• Rabah Amir & Adriana Gama, 2025, "On Cournot's theory of oligopoly with perfect complements," Serie documentos de trabajo del Centro de Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, number 2025-04, May.
• Pär Holmberg & Keith Ruddell & Bert Willems, 2025, "Multi-product supply function equilibria," Working Papers, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge, number EPRG2522, Sep.
• Andrzej S. Grzelakowski, 2025, "Market and Regulatory Challenges of the EU Road Freight Transport Transformation towards Zero Emissions," European Research Studies Journal, European Research Studies Journal, volume 0, issue 1, pages 680-695.
• Andrzej S. Grzelakowski, 2025, "Market Challenges and their Impact on the Polish International Road Freight Transport Sector," European Research Studies Journal, European Research Studies Journal, volume 0, issue 2, pages 780-797.
• Isabel Gödl-Hanisch & Jordan Pandolfo, 2025, "Monetary Policy Transmission, Bank Market Power, and Income Source," Research Working Paper, Federal Reserve Bank of Kansas City, number 25-02, Apr, DOI: 10.18651/RWP2025-02.
• Pablo D. Azar & Adrian Casillas & Maryam Farboodi, 2025, "The Origins of Market Power in DeFi," Liberty Street Economics, Federal Reserve Bank of New York, number 20250421, Apr.
• Jeremy Pearce & Liangjie Wu, 2025, "Market Concentration and Aggregate Productivity: The Role of Demand," Staff Reports, Federal Reserve Bank of New York, number 1159, Jul, DOI: 10.59576/sr.1159.
• Cemil Selcuk, 2025, "Asymmetric Information and Credit Rationing in a Model of Search," Games, MDPI, volume 16, issue 1, pages 1-14, January.
• Hayk Sargsyan & Aleksandr Grigoryan & Olivier Bruno, 2025, "Deposits Market Exclusion and the Emergence of Premium Banks," GREDEG Working Papers, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, number 2025-10, Apr.
• Thierry Blayac & Patrice Bougette & Jules Duberga, 2025, "Share the Ride: The Determinants of Long-Distance Carpooling Pricing Strategies in France," GREDEG Working Papers, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, number 2025-47, Nov.
• Éric Darmon & Thomas Le Texier & Zhiwen Li & Thierry Pénard, 2025, "Multimarket contact, cross-market externalities and platform competition," Post-Print, HAL, number hal-05107385, DOI: 10.1016/j.infoecopol.2025.101133.
• Jasmina Arifovic & Liang Diao & Nobuyuki Hanaki, 2025, "An individual evolutionary learning model meets Cournot," Post-Print, HAL, number hal-05165058, Mar, DOI: 10.1016/j.jedc.2024.104992.
• Amaury Brandenburg & Thomas Le Texier & Eric Malin, 2025, "Stratégies de licence d’un algorithme d’intelligence artificielle dans un contexte de relations verticales," Post-Print, HAL, number hal-05305302, DOI: 10.3917/reco.762.0005.
• Alexei Parakhonyak & Andrew Rhodes, 2025, "Dynamic Consumer Search," Working Papers, HAL, number hal-04950999, Feb.
• Bruno Carballa Smichowski & Yassine Lefouili & Andrea Mantovani & Carlo Reggiani, 2025, "Data Sharing or Analytics Sharing ?," Working Papers, HAL, number hal-04956937, Feb.
• Andrew Rhodes & Jidong Zhou, 2025, "Personalization and privacy choice," Working Papers, HAL, number hal-04958392, Feb.
• Andrew Rhodes & Jidong Zhou & Junjie Zhou, 2025, "Digital Ecosystems and Data Regulation," Working Papers, HAL, number hal-04965491, Feb.
• Rémi Avignon & Etienne Guigue, 2025, "Markups and Markdowns in the French Dairy Market," Working Papers, HAL, number hal-04986946, Mar.
• Éric Darmon & Thomas Le Texier & Zhiwen Li & Thierry Pénard, 2025, "Multimarket Contact, Cross-Market Externalities and Platform Competition," Working Papers, HAL, number hal-05058114, Apr.
• Yassine Lefouili & Leonardo Madio, 2025, "Mergers and Investments: Where Do We Stand?," Working Papers, HAL, number hal-05129593, Jun.
• Volker Nocke & Andrew Rhodes, 2025, "Optimal Merger Remedies," Working Papers, HAL, number hal-05261404, Aug.
• Pär Holmberg & Keith Ruddell & Bert Willems, 2025, "Multi-Product Supply Function Equilibria," Working Papers, HAL, number hal-05294356, Oct.
• Frédéric Marty & Thierry Warin, 2025, "Algorithmic Pricing and Competition: Balancing Efficiency and Consumer Welfare," Working Papers, HAL, number halshs-05199988, Aug.
• Hjertstrand, Per & Tangerås, Thomas, 2025, "Nonparametric Tests for Perfect Competition: Theory and Application to the Nordic Wholesale Electricity Market," Working Paper Series, Research Institute of Industrial Economics, number 1527, Jun.
• Holmberg, Pär & Ruddell, Keith & Willems, Bert, 2025, "Multi-Product Supply Function Equilibria," Working Paper Series, Research Institute of Industrial Economics, number 1537, Sep.
• Andersson, Jonas & Nilsen, Øivind Anti & Skaug, Hans Julius, 2025, "Mixed Frequency Data in a Heterogenous Sticky Price Model," Discussion Paper Series in Economics, Norwegian School of Economics, Department of Economics, number 21/2025, Dec.
• YOON, Kiho, 2025, "Upstream Competition and Exclusive Content Provision in Media Markets," Hitotsubashi Journal of Economics, Hitotsubashi University, volume 66, issue 2, pages 61-92, December, DOI: 10.15057/hje.2025004.
• CHOI, Kangsik & LU, Xingyan, 2025, "Privatization and Quality Differentiation with Excess Burden of Taxation," Hitotsubashi Journal of Economics, Hitotsubashi University, volume 66, issue 2, pages 93-112, December, DOI: 10.15057/hje.2025005.
• Gandelman, Néstor & Roldán, Flavia & Viera, Sofía, 2025, "An Examination of Numerical Portability in Mobile Communication in Uruguay," IDB Publications (Working Papers), Inter-American Development Bank, number 13957, Jan, DOI: http://dx.doi.org/10.18235/0013380.
• Juarez, Leticia, 2025, "Buyer Market Power and Exchange Rate Pass-through," IDB Publications (Working Papers), Inter-American Development Bank, number 14128, Jun, DOI: http://dx.doi.org/10.18235/0013557.
• Henrekson, Magnus & Persson, Lars, 2025, "Why Is Competition in the European Football Market Failing, and What Should Be Done About It?," IZA Discussion Papers, Institute of Labor Economics (IZA), number 18354, Dec.
• Filippo Biondi & Sergio Inferrera & Matthias Mertens & Javier Miranda, 2025, "Declining Job Reallocation in Europe: The Role of Shocks, Market Power, and Technology," Jena Economics Research Papers, Friedrich-Schiller-University Jena, number 2025-004, Mar.
• Domenico Buccella & Luciano Fanti & Luca Gori & Mauro Sodini, 2025, "A Dynamic Oligopoly with International Trade and the Environment: An Evolutionary Approach," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, volume 88, issue 11, pages 3029-3057, November, DOI: 10.1007/s10640-025-01017-6.
• Hans Jarle Kind & Guttorm Schjelderup, 2025, "Taxation and multi-sided platforms: a review," International Tax and Public Finance, Springer;International Institute of Public Finance, volume 32, issue 3, pages 895-915, June, DOI: 10.1007/s10797-024-09878-1.
• Francesco Angelini & Massimiliano Castellani & Lorenzo Zirulia, 2025, "Platform investment and seller competition in two-sided markets," Journal of Economics, Springer, volume 144, issue 1, pages 1-29, January, DOI: 10.1007/s00712-024-00874-x.
• Chuyuan Zhang & Sang-Ho Lee, 2025, "Supply shift by a vertically integrated foreign firm under domestic integration," Journal of Economics, Springer, volume 144, issue 1, pages 31-57, January, DOI: 10.1007/s00712-024-00879-6.
• Marc Escrihuela-Villar & Jorge Guillén, 2025, "On Cournot and Bertrand competition in collusive mixed oligopolies," Journal of Economics, Springer, volume 144, issue 3, pages 231-246, April, DOI: 10.1007/s00712-024-00889-4.
• Yi-Ling Cheng & Hsiang-Yun Huang, 2025, "Quality competition and product compatibility in network industries," Journal of Economics, Springer, volume 145, issue 1, pages 31-57, June, DOI: 10.1007/s00712-024-00896-5.
• Ryosuke Tsuritani, 2025, "Strategic input price discrimination with horizontal shareholding," Journal of Economics, Springer, volume 145, issue 1, pages 59-75, June, DOI: 10.1007/s00712-024-00897-4.
• Masashi Umezawa & Shigetaka Yamakawa, 2025, "The impact of switching costs on behavior-based price discrimination with multiple consumer types," Journal of Economics, Springer, volume 145, issue 2, pages 147-187, July, DOI: 10.1007/s00712-025-00900-6.
• Mingqing Xing & Sang-Ho Lee, 2025, "Cross-ownership and managerial delegation under vertical product differentiation: Revisiting with a quality-related cost," Journal of Economics, Springer, volume 146, issue 1, pages 77-101, September, DOI: 10.1007/s00712-025-00911-3.
• Michael L. Polemis, 2025, "What Determines Cartel Duration? Global Evidence Using Quantile Regression Analysis," Journal of Industry, Competition and Trade, Springer, volume 25, issue 1, pages 1-28, December, DOI: 10.1007/s10842-025-00443-y.
• James R. Boohaker, 2025, "Multi-Market Contact in International Trade; Evidence from U.S. Battery Exporters," Journal of Industry, Competition and Trade, Springer, volume 25, issue 1, pages 1-34, December, DOI: 10.1007/s10842-025-00458-5.
• Jae Hyen Chung & Pradeep Chintagunta & Sanjog Misra, 2025, "Simulated maximum likelihood estimation of the sequential search model," Quantitative Marketing and Economics (QME), Springer, volume 23, issue 1, pages 105-164, March, DOI: 10.1007/s11129-024-09281-4.
• Raluca Ursu & Stephan Seiler & Elisabeth Honka, 2025, "The sequential search model: A framework for empirical research," Quantitative Marketing and Economics (QME), Springer, volume 23, issue 1, pages 165-213, March, DOI: 10.1007/s11129-024-09291-2.
• Sue H. Mialon & Samiran Banerjee, 2025, "Net neutrality and regulation on the internet access," Journal of Regulatory Economics, Springer, volume 67, issue 1, pages 1-28, June, DOI: 10.1007/s11149-024-09484-3.
• Mikhael Shor & David S. Sibley, 2025, "Modeling Assumptions and Nuance in Vertical Relationships," Review of Industrial Organization, Springer;The Industrial Organization Society, volume 66, issue 2, pages 109-113, February, DOI: 10.1007/s11151-024-10005-x.
• Taoxiong Liu & Huolan Cheng & Jianping Liu & Zhen Sun, 2025, "Online Market Resilience to Economic Shocks: Evidence Based on Price Dispersion from the COVID-19 Outbreak in China," Review of Industrial Organization, Springer;The Industrial Organization Society, volume 66, issue 3, pages 397-413, March, DOI: 10.1007/s11151-024-09987-5.
• Luke Garrod & Tien-Der Han & James Harvey & Matthew Olczak, 2025, "Cartel Damages Claims, Passing-On, and Passing-Back," Review of Industrial Organization, Springer;The Industrial Organization Society, volume 66, issue 3, pages 261-292, March, DOI: 10.1007/s11151-024-09991-9.
• Yuanzhu Lu & Sougata Poddar & Swapnendu Banerjee & Monalisa Ghosh, 2025, "Patent Licensing and Strategic Shelving," Review of Industrial Organization, Springer;The Industrial Organization Society, volume 66, issue 3, pages 367-396, March, DOI: 10.1007/s11151-024-09995-5.
• Rafael R. Guthmann, 2025, "Imperfect Competition as a Result of Unawareness," Review of Industrial Organization, Springer;The Industrial Organization Society, volume 67, issue 1, pages 35-53, June, DOI: 10.1007/s11151-024-10006-w.
• Morifumi Hirao, 2025, "Incumbent Repositioning Against Entry in a Vertically Differentiated Market," Review of Industrial Organization, Springer;The Industrial Organization Society, volume 67, issue 2, pages 161-189, August, DOI: 10.1007/s11151-025-10019-z.
• Tsuyoshi Toshimitsu, 2025, "Network Connectivity and R&D Competition in a Hotelling Model: The Role of Market Coverage and Consumer Expectations," Discussion Paper Series, School of Economics, Kwansei Gakuin University, number 293, May.
• Ryo Masuyama, 2025, "Targeted Pricing and Vertical Structure," Discussion Paper Series, Research Institute for Economics & Business Administration, Kobe University, number DP2025-13, Jun.
• Anup Mulay & Anthony Savagar, 2025, "Optimal Firm Entry with Returns to Scale," Bank of Lithuania Working Paper Series, Bank of Lithuania, number 129, Jan.
• Adriana Alventosa & José Manuel Ordóñez-de-Haro & Javier Rodero Cosano, 2025, "Cartel dynamics and Leniency policy: Self-reporting to start over with a clean slate," Working Papers, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center, number 2025-02, Apr.
• Peter Michaelis & Thomas Ziesemer, 2025, "A Note on the Costs of Quality in Vertically Differentiated Duopoly," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, volume 181, issue 2, pages 391-402, DOI: 10.1628/jite-2025-0029.
• Paolo Bertoletti, 2025, "On the welfare effects of compatibility with Hotelling competition," Working Papers, University of Milano-Bicocca, Department of Economics, number 560, Oct.
• Winston Wei Dou & Itay Goldstein & Yan Ji, 2025, "AI-Powered Trading, Algorithmic Collusion, and Price Efficiency," NBER Working Papers, National Bureau of Economic Research, Inc, number 34054, Jul.
• Zach Y. Brown & Alexander MacKay, 2025, "Algorithmic Coercion with Faster Pricing," NBER Working Papers, National Bureau of Economic Research, Inc, number 34070, Jul.
• Fridman, A. & Verbetskaia, V., 2025, "Anti-counterfeiting policy at pharmaceutical market: Game-theoretic analysis," Journal of the New Economic Association, New Economic Association, volume 66, issue 1, pages 159-176, DOI: 10.31737/22212264_2025_1_159-176.
• Matteo Bizzarri & Fernando Vega-Redondo, 2025, "The effect of Common Ownership and Input-Output networks: the case of the Spanish Economy," Working Papers, NET Institute, number 25-05, Sep.
• Shota Ichihashi, 2025, "Platform-Enabled Algorithmic Pricing," Working Papers, NET Institute, number 25-03, Sep.
• Christophe André & Manuel Bétin & Peter Gal & Paul Peltier, 2025, "Developments in Artificial Intelligence markets: New indicators based on model characteristics, prices and providers: New indicators based on model characteristics, prices and providers," OECD Artificial Intelligence Papers, OECD Publishing, number 37, Jun.
• Qiuyu Lu & Noriaki Matsushima & Shiva Shekhar, 2025, "Welfare implications of personalized pricing in competitive platform markets: The role of network effects," OSIPP Discussion Paper, Osaka School of International Public Policy, Osaka University, number 25E003, Jul.
• Anton Korinek & Jai Vipra, 2025, "Concentrating intelligence: scaling and market structure in artificial intelligence," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, volume 40, issue 121, pages 225-256.
• Giacomo Calzolari & Philip Hanspach, 2025, "Pricing Algorithms Out of the Box: A Study of the Repricing Industry," Journal of Competition Law and Economics, Oxford University Press, volume 21, issue 2, pages 163-187.
• Hitesh Doshi & Praveen Kumar, 2025, "Capital Investment, Equity Returns, and Aggregate Dynamics in Oligopolistic Production Economies," The Review of Financial Studies, Society for Financial Studies, volume 38, issue 1, pages 192-234.
• Laura Abrardi & Luca Colombo & Piero Tedeschi, 2025, "Pretending Ignorance Is Bliss: Competing Insurers with Heterogeneous Informational Advantages," The Review of Financial Studies, Society for Financial Studies, volume 38, issue 7, pages 2005-2033.
• Erasmo Giambona & Anil Kumar & Gordon M Phillips, 2025, "Hedging, Contract Enforceability, and Competition," The Review of Financial Studies, Society for Financial Studies, volume 38, issue 7, pages 2034-2087.
• Silvia Leoni & Marco Catola, 2025, "Green Transition and Environmental Policy in Imperfectly Competitive Markets: Insights from Agent-Based Modelling," Discussion Papers, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy, number 2025/326, Nov.
• Maximilian Andres & Lisa Bruttel, 2025, "Communication and collusion in oligopoly experiments: A meta-study using machine learning," CEPA Discussion Papers, Center for Economic Policy Analysis, number 88, Jun, DOI: 10.25932/publishup-68013.
• Lisa Bruttel & Holger A. Rau & Vasilisa Werner, 2025, "Partial Cartels and Ringleaders: An Experimental Study," CEPA Discussion Papers, Center for Economic Policy Analysis, number 92, Aug, DOI: 10.25932/publishup-68585.
• Khan, Abhimanyu & Pradhan, Sheersh, 2025, "The Effect of Market Information on Market Prices," MPRA Paper, University Library of Munich, Germany, number 123522, Feb.
• Kohnert, Dirk, 2025, "Aid in retreat: The Impact of US and European Aid Cuts on Sub-Saharan Africa," MPRA Paper, University Library of Munich, Germany, number 124485, Apr.
• Kohnert, Dirk, 2025, "L'aide en recul: L'impact des réductions de l'aide américaine et européenne sur l'Afrique subsaharienne
  [Aid in Retreat: Impact of US and European Aid Cuts on Sub-Saharan Africa]," MPRA Paper, University Library of Munich, Germany, number 124656, May.
• Bos, Iwan & Cesi, Berardino & Marini, Marco A., 2025, "Cartel Stability with Quality-Anchored Buyers," MPRA Paper, University Library of Munich, Germany, number 125064, Jun.
• Khan, Abhimanyu & Peeters, Ronald, 2025, "Stability of multiple cartels in differentiated markets," MPRA Paper, University Library of Munich, Germany, number 125199, Jul.
• Du, G., 2025, "A Unified Axiomatic Theory of Microeconomics: Market Structure and Equilibrium," MPRA Paper, University Library of Munich, Germany, number 126828.
• Armstrong, Mark & Vickers, John, 2025, "Multibrand price dispersion," MPRA Paper, University Library of Munich, Germany, number 127017, Nov.
• Du, G., 2025, "A Unified Axiomatic Theory of Microeconomics: Market Structure and Equilibrium," MPRA Paper, University Library of Munich, Germany, number 127096.
• Gorecki, Paul, 2025, "Better Merger Outcomes Due to Increased Scrutiny by Ireland’s NCA? the Q-Park/Tazbell Transaction," MPRA Paper, University Library of Munich, Germany, number 127352, Dec.
• Stephen Martin, 2025, "Hotelling's Main Street Model: Undercut-Proof Equilibrium as a Constrained Optimization Problem," Purdue University Economics Working Papers, Purdue University, Department of Economics, number 1354, May.
• Alex Chernoff & Allen Head & Beverly Lapham, 2025, "Markups, Pass-Through, and Firm Heterogeneity with Sequentially Mixed Search," Working Paper, Economics Department, Queen's University, number 1525, Jan.
• Davide Del Prete & Aminur Rahman & Edoardo Tolva, 2025, "Buyer Market Power, Transport Mode, and Exchange Rate Shocks," ADB Economics Working Paper Series, Asian Development Bank, number 825, Nov.
• David P. Brown & Andrew Eckert & Douglas Silveira, 2025, "Wholesale Price Prediction: The Role of Information and Transparency," Working Papers, University of Alberta, Department of Economics, number 2025-08, Oct.
• Amir Ashour Novirdoust & Pia Hoffmann-Willers & Julian Keutz, 2025, "Optimal bidding of uncertain renewable electricity in sequential markets - Implications of risk aversion and imperfect competition," EWI Working Papers, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI), number 2025-10, Nov.
• Hong Lee, 2025, "Disentangling the Price Effects of Joint Ventures in the International Airline Industry: Policy Lessons for South Korea," Industrial Economic Review, Korea Institute for Industrial Economics and Trade, number 021805, Oct.
• Cristian BRANCU & Oana TURCU & Cristian BUSU, 2025, "Transformation and Competition in Romanian Television: Market Dynamics and Regulatory Influence," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, volume 10, issue 1, pages 180-188, February.
• Danielle F. Morey & Michelle Fischer & Ramteen Sioshansi, 2025, "Winners and Losers from Vertical Integration Between Natural-Gas and Electricity Markets," The Energy Journal, , volume 46, issue 4, pages 185-202, July, DOI: 10.1177/01956574251324175.
• Rittwik Chatterjee & Srobonti Chattopadhyay & Tarun Kabiraj, 2025, "R&D Incentives with Uncertain Probability of Success," Studies in Microeconomics, , volume 13, issue 1, pages 127-143, April, DOI: 10.1177/23210222231178578.
• Stergios A. Seretis & Stavros D. Mavroudeas & Feride Aksu Tanık & Alexios Benos & Elias Kondilis, 2025, "COVID-19 Pandemic and Vaccine Imperialism," Review of Radical Political Economics, Union for Radical Political Economics, volume 57, issue 1, pages 9-29, March, DOI: 10.1177/04866134241282107.
• Anna D’Annunzio & Antonio Russo, 2025, "Digital Ecosystems, the Adtech Tax and Content Quality," CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, number 758, Sep.
• Matteo Bizzarri, 2025, "General equilibrium with competition in schedules and input-output networks: an existence result," CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, number 765, Oct.
• J. Manuel Sanchez-Cartas & Evangelos Katsamakas, 2025, "AI pricing algorithms under platform competition," Electronic Commerce Research, Springer, volume 25, issue 6, pages 4343-4370, December, DOI: 10.1007/s10660-024-09821-w.
• Akio Matsumoto & Ferenc Szidarovszky, 2025, "Optimal environmental policy for NPS pollution under random welfare," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, volume 27, issue 2, pages 139-167, April, DOI: 10.1007/s10018-024-00412-5.
• Flavio M. Menezes & John Quiggin, 2025, "Ex ante and ex post equilibrium supply curves," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), volume 13, issue 1, pages 79-98, April, DOI: 10.1007/s40505-024-00282-w.
• Swapnendu Banerjee & Arijit Mukherjee & Sougata Poddar, 2025, "Pro-competitive horizontal merger with cost reducing investments and network externalities," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), volume 13, issue 1, pages 145-162, April, DOI: 10.1007/s40505-024-00285-7.
• Daria Pankova & Alexander Tarasov, 2025, "Distortions in monopolistic competition with endogenous labor," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), volume 13, issue 2, pages 341-352, October, DOI: 10.1007/s40505-025-00299-9.
• Lorenzo Cerboni Baiardi & Elisa Caprari & Elena Molho, 2025, "Nash Equilibria with Incomplete Preferences: A Strategic Completion Approach," Group Decision and Negotiation, Springer, volume 34, issue 6, pages 1273-1302, December, DOI: 10.1007/s10726-025-09945-w.
• Saswati Chakraborty & Oindrila Dey, 2025, "Access to credit: hindrance to technology transfer?," Indian Economic Review, Springer, volume 60, issue 1, pages 129-161, June, DOI: 10.1007/s41775-024-00242-y.
• Takuo Sugaya, 2025, "Keeping players in the dark: benefits of private monitoring," The Japanese Economic Review, Springer, volume 76, issue 3, pages 539-564, July, DOI: 10.1007/s42973-025-00221-9.
• Luca Gori & Mauro Sodini, 2025, "Nonlinear dynamics in a public good game," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, volume 20, issue 3, pages 677-699, July, DOI: 10.1007/s11403-024-00423-1.
• Gianluca Biggi & Andrea Caravaggio, 2025, "Striving for balance: past choices and future expectations in a critical resource competition dynamic model," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, volume 20, issue 3, pages 701-723, July, DOI: 10.1007/s11403-024-00429-9.
• Katsuya Kobayashi & Hideo Konishi & Kaoru Ueda, 2025, "Prize-allocation rules in generalized team contests," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), volume 79, issue 1, pages 151-179, February, DOI: 10.1007/s00199-024-01559-8.
• Xiaokuai Shao & Ming Gao, 2025, "Second-home tax and tax avoidance in the housing market," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), volume 79, issue 2, pages 561-601, March, DOI: 10.1007/s00199-024-01592-7.
• Markus Eigruber & Franz Wirl, 2025, "On the non-uniqueness of linear Markov perfect equilibria in linear-quadratic differential games: a geometric approach," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), volume 79, issue 3, pages 911-943, May, DOI: 10.1007/s00199-024-01606-4.
• Rupayan Pal & Emmanuel Petrakis, 2025, "Cross-ownership in duopoly: Are there any incentives to divest?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), volume 80, issue 3, pages 703-744, November, DOI: 10.1007/s00199-025-01638-4.
• Fedor Slepov & Sergey Kokovin, 2025, "Equilibrium existence in Krugman’s and Bertoletti–Etro’s trade models: the general case," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), volume 80, issue 3, pages 761-800, November, DOI: 10.1007/s00199-025-01642-8.
• Iwan Bos & Dries Vermeulen & Niloufar Yousefimanesh, 2025, "Equilibrium existence in price-quantity games: a sunk cost paradox," International Journal of Game Theory, Springer;Game Theory Society, volume 54, issue 2, pages 1-30, December, DOI: 10.1007/s00182-025-00955-1.
• Takanori Ago, 2025, "Two-dimensional spatial Cournot competition with hyperbolic demand," Letters in Spatial and Resource Sciences, Springer, volume 18, issue 1, pages 1-16, December, DOI: 10.1007/s12076-025-00415-0.
• Aaron D. Wood & Charles F. Mason & David Finnoff, 2025, "The development of OPEC: an evolutionary game theory and agent-based modeling approach," SN Business & Economics, Springer, volume 5, issue 7, pages 1-18, July, DOI: 10.1007/s43546-024-00776-6.
• Yanlin Chen & Xianwen Shi & Jun Zhang, 2025, "Welfare of Competitive Price Discrimination with Captive Consumers," Working Papers, University of Toronto, Department of Economics, number tecipa-790, Jan.
• Carballa-Smichowski, Bruno & Lefouili, Yassine & Mantovani, Andrea & Reggiani, Carlo, 2025, "Data Sharing or Analytics Sharing?," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1615, Feb.
• Lefouili, Yassine & Madio, Leonardo, 2025, "Mergers and Investments: Where Do We Stand?," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1617, Feb, revised Jul 2025.
• Rhodes, Andrew & Zhou, Jidong & Zhou, Junjie, 2025, "Digital Ecosystems and Data Regulation," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1621, Feb.
• Ivaldi, Marc & Cherbonnier, Frédéric & Muller-Vibes, Catherine & Van Der Straeten, Karine, 2025, "Welfare Implications of a Carbon Tax in a Long-Distance Passenger Market," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1656, Jul.
• Bontems, Philippe & Hamilton, Stephen F. & Lepore, Jason, 2025, "Sequential pricing on multisided platforms," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1658, Jul.
• Nocke, Volker & Rhodes, Andrew, 2025, "Optimal Merger Remedies," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1660, Aug.
• Enache, Andreea & Rhodes, Andrew, 2025, "Price Parity Clauses and Platform Data Acquisition," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1661, Sep.
• Holmberg, Pär & Willems, Bert & Ruddell, Keith, 2025, "Multi-Product Supply Function Equilibria," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1669, Sep.
• Azova, Arina & Lukyanov, Georgy, 2025, "Herding Prices: Social Learning and Dynamic Competition in Duopoly," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1685, Oct.
• Ying Fan & Chenyu Yang, 2025, "Estimating Discrete Games with Many Firms and Many Decisions: An Application to Merger and Product Variety," Journal of Political Economy, University of Chicago Press, volume 133, issue 6, pages 1886-1931, DOI: 10.1086/734724.
• Claude d'Aspremont & Rodolphe Dos Santos Ferreira, 2025, "Monopolistic Competition with large firms," Working Papers of BETA, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg, number 2025-21.
• Ismail Saglam, 2025, "Pretend‐but‐perform regulation of a duopoly under three competition modes," Managerial and Decision Economics, John Wiley & Sons, Ltd., volume 46, issue 4, pages 2064-2085, June, DOI: 10.1002/mde.3994.
• Ismail Saglam, 2025, "Price Stickiness in a Dual‐Channel Supply Chain," Managerial and Decision Economics, John Wiley & Sons, Ltd., volume 46, issue 5, pages 2766-2782, July, DOI: 10.1002/mde.4501.
• Jihwan Do & Jeremy Kettering, 2025, "The Value of Information in Oligopoly with Endogenous Entry," Working papers, Yonsei University, Yonsei Economics Research Institute, number 2025rwp-253, Jun.
• Paul S. Koh, 2025, "Concentration-Based Inference for Evaluating Horizontal Mergers," Working papers, Yonsei University, Yonsei Economics Research Institute, number 2025rwp-266, Sep.
• Heidelmeier, Lisa & Sahm, Marco, 2025, "Environmental awards in a duopoly with green consumers," BERG Working Paper Series, Bamberg University, Bamberg Economic Research Group, number 207, DOI: 10.20378/irb-108373.
• Basak, Debasmita, 2025, "Does Common Ownership Distort Entry Incentives In Successive Oligopolies?," EconStor Preprints, ZBW - Leibniz Information Centre for Economics, number 319538.
• Dabrowski, Cara, 2025, "A Kaleckian approach to the financialization-distribution-inflation nexus: Germany and Austria in comparative perspective," IPE Working Papers, Berlin School of Economics and Law, Institute for International Political Economy (IPE), number 250/2025.
• Ciriani, Stéphane & Jeanjean, François, 2025, "Is Draghi report really wrong about telecoms? (An overview of academic papers on telecom market structure and mergers)," 33rd European Regional ITS Conference, Edinburgh, 2025: Digital innovation and transformation in uncertain times, International Telecommunications Society (ITS), number 331262.
• Lee, Jinkook & Seo, Myoungshik, 2025, "Contract type selection in Korea's large-scale retail sector," KDI Journal of Economic Policy, Korea Development Institute (KDI), volume 47, issue 3, pages 1-29, DOI: 10.23895/kdijep.2025.47.3.1.
• Normann, Hans-Theo & Martin, Simon & Püplichhuisen, Paul & Werner, Tobias, 2025, "The Spoils of Algorithmic Collusion: Profit Allocation Among Asymmetric Firms," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy, Verein für Socialpolitik / German Economic Association, number 325405.
• Heiny, Friederike & Li, Tianchi & Tolksdorf, Michel, 2025, "We value your privacy: Behavior-based pricing under endogenous privacy," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy, Verein für Socialpolitik / German Economic Association, number 325415.
• Normann, Hans-Theo & Rulié, Nina & Stypa, Olaf & Werner, Tobias, 2025, "Delegate Pricing Decisions to an Algorithm? Experimental Evidence," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy, Verein für Socialpolitik / German Economic Association, number 325417, revised 2025.
• Ehrhart, Karl-Martin & Eicke, Anselm & Hirth, Lion & Ocker, Fabian & Ott, Marion & Schlecht, Ingmar & Wang, Runxi, 2025, "Congestion management games in electricity markets," ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research, number 25-044.
• Gideon Bornstein & Alessandra Peter, 2025, "Nonlinear Pricing and Misallocation," American Economic Review, American Economic Association, volume 115, issue 11, pages 3853-3908, November, DOI: 10.1257/aer.20230168.
• Bruno Pellegrino, 2025, "Product Differentiation and Oligopoly: A Network Approach," American Economic Review, American Economic Association, volume 115, issue 4, pages 1170-1225, April, DOI: 10.1257/aer.20201425.
• Christopher P. Chambers & Yusufcan Masatlioglu & Paulo Natenzon & Collin Raymond, 2025, "Weighted Linear Discrete Choice," American Economic Review, American Economic Association, volume 115, issue 4, pages 1226-1257, April, DOI: 10.1257/aer.20220130.
• Xavier Vives & Orestis Vravosinos, 2025, "Free Entry in a Cournot Market with Overlapping Ownership," American Economic Journal: Microeconomics, American Economic Association, volume 17, issue 2, pages 292-320, May, DOI: 10.1257/mic.20230331.
• Robert Clark & Decio Coviello & Adriano De Leverano, 2025, "Complementary Bidding and the Collusive Arrangement: Evidence from an Antitrust Investigation," American Economic Journal: Microeconomics, American Economic Association, volume 17, issue 2, pages 66-93, May, DOI: 10.1257/mic.20210450.
• Gary Biglaiser & Jiadong Gu & Fei Li, 2025, "Information Acquisition and Product Differentiation Perception," American Economic Journal: Microeconomics, American Economic Association, volume 17, issue 3, pages 1-34, August, DOI: 10.1257/mic.20230104.
• Raphael Corbi & Fabio Miessi Sanches, 2025, "Church Tax Exemption and Structure of Religious Markets: A Dynamic Structural Analysis," American Economic Journal: Microeconomics, American Economic Association, volume 17, issue 3, pages 131-163, August, DOI: 10.1257/mic.20210238.
• Dirk Bergemann & Benjamin Brooks & Stephen Morris, 2025, "On the Alignment of Consumer Surplus and Total Surplus under Competitive Price Discrimination," American Economic Journal: Microeconomics, American Economic Association, volume 17, issue 4, pages 234-259, November, DOI: 10.1257/mic.20240197.
• Marzena Rostek & Ji Hee Yoon, 2025, "Imperfect Competition in Financial Markets: Recent Developments," Journal of Economic Literature, American Economic Association, volume 63, issue 4, pages 1191-1243, December, DOI: 10.1257/jel.20241340.
• He Liang & Xiaomin Sun & Yanli Guo, 2025, "Corporate Social Responsibility Decision-Making Considering Multiple Factors in a Duopoly Model," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, volume 27, issue 68, pages 214-214, February.
• Olivier Bochet & Mathieu Faure & Yan Long & Yves Zenou, 2025, "Perceived Competition," AMSE Working Papers, Aix-Marseille School of Economics, France, number 2515, Oct.
• Kiho Yoon, 2025, "Upstream competition and exclusive content provision in media markets," Papers, arXiv.org, number 2506.15063, Jun.
• Cesare Carissimo & Fryderyk Falniowski & Siavash Rahimi & Heinrich Nax, 2025, "Algorithmic Collusion is Algorithm Orchestration," Papers, arXiv.org, number 2508.14766, Aug, revised Dec 2025.
• Alex Chernoff & Allen Head & Beverly Lapham, 2025, "Markups, Pass-Through, and Firm Heterogeneity with Sequentially Mixed Search," Staff Working Papers, Bank of Canada, number 25-7, Feb, DOI: 10.34989/swp-2025-7.
• Francesco Paolo Conteduca & Ludovic Panon, 2025, "Natural disasters and markups," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1496, Oct.
• Elisa Guglielminetti & Michele Loberto, 2025, "Inflation expectations and price-setting decisions: insights from the housing market," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1507, Nov.
• Sanja Milenković, 2025, "Resolving The Merger Paradox," Ekonomske ideje i praksa, Faculty of Economics and Business, University of Belgrade, issue 59, pages 37-56, November.
• Dmitry Aldokhin & Anton Belyakov, 2025, "On equilibria in the model of deposit markets with exogenous switching costs of depositors," Bank of Russia Working Paper Series, Bank of Russia, number wps151, Jul.
• Ayush Pant & Federico Trombetta, 2025, "The newsroom dilemma," Economic Inquiry, Western Economic Association International, volume 63, issue 4, pages 1009-1035, October, DOI: 10.1111/ecin.13296.
• Massimo A. De Francesco & Neri Salvadori, 2025, "Bertrand‐Edgeworth game under oligopoly. General results and comparisons with duopoly," Metroeconomica, Wiley Blackwell, volume 76, issue 1, pages 94-121, February, DOI: 10.1111/meca.12474.
• Marcus Buckmann & Buckmann Eccles, 2025, "The effect of mortgage brokers on banks’ business models," Bank of England working papers, Bank of England, number 1104, Feb.
• Volker Nocke & Nicolas Schutz, 2025, "Oligopoly, Complementarities, and Transformed Potentials," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_644_v2, Feb, revised Jul 2025.
• Volker Nocke & Nicolas Schutz, 2025, "Concentration Indices, Welfare Distortions, and Misallocation in Oligopoly," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_669, Mar.
• Nicolas Schutz & Anton Sobolev, 2025, "Dual Pricing in a Model of Sales," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_678v2, Mar, revised Jun 2025.
• Volker Nocke & Andrew Rhodes, 2025, "Optimal Merger Remedies," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_680, Apr.
• Christoph Carnehl & Anton Sobolev & Konrad Stahl & André Stenzel, 2025, "Designing Vertical Differentiation with Information," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_700, Aug.
• Max Riegel, 2025, "One-Stop-Shopping hinders Specialization?," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_701, Sep.
• Martin Peitz & Anton Sobolev, 2025, "Recommendation Power and Competition," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_715, Nov.
• Can Gökhan & Mukherjee Arijit, 2025, "Cross Ownership Under Strategic Tax Policy," The B.E. Journal of Economic Analysis & Policy, De Gruyter, volume 25, issue 1, pages 115-125, DOI: 10.1515/bejeap-2024-0051.
• Inomata Kentaro, 2025, "Strategic Brand Proliferation: Monopoly versus Duopoly," The B.E. Journal of Economic Analysis & Policy, De Gruyter, volume 25, issue 2, pages 371-387, DOI: 10.1515/bejeap-2023-0322.
• Charistos Konstantinos, 2025, "On the Stability of Common Ownership Arrangements," The B.E. Journal of Economic Analysis & Policy, De Gruyter, volume 25, issue 3, pages 807-818, DOI: 10.1515/bejeap-2024-0236.
• Lee Jen-Yao & Wang Leonard F.S. & Wu Di, 2025, "Hiring Biased Managers: Kant vs. Nash," The B.E. Journal of Economic Analysis & Policy, De Gruyter, volume 25, issue 4, pages 1077-1090, DOI: 10.1515/bejeap-2024-0444.
• Wu Tsaur-Chin & Lin Chin-Ho & Chang Chia-Jen, 2025, "Optimal Tariffs with Endogenous Entry Mode: Uniform Versus Discriminatory Tariffs," The B.E. Journal of Economic Analysis & Policy, De Gruyter, volume 25, issue 4, pages 899-934, DOI: 10.1515/bejeap-2025-0114.
• Gilbert John & Koska Onur A. & Oladi Reza, 2025, "Network Investments Under Different Consumer Expectations and Competition Modes," The B.E. Journal of Theoretical Economics, De Gruyter, volume 25, issue 2, pages 405-436, DOI: 10.1515/bejte-2024-0124.
• Mpabe Bodjongo Mathieu Juliot, 2025, "Revival Churches Abuses and Well-Being in Cameroon," Review of Law & Economics, De Gruyter, volume 21, issue 1, pages 121-146, DOI: 10.1515/rle-2024-0035.
• Holmberg, P. & Ruddell, K. & Willems, B., 2025, "Multi-Product Supply Function Equilibria," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge, number 2565, Sep.
• James R. Boohaker, 2025, "Multi-Market Contact in International Trade; Evidence from U.S. Battery Exporters," Working Papers, Center for Economic Studies, U.S. Census Bureau, number 25-32, May.
• Simon Martin & Hans-Theo Normann & Paul Püplichhuisen & Tobias Werner, 2025, "The Spoils of Algorithmic Collusion: Profit Allocation Among Asymmetric Firms," CESifo Working Paper Series, CESifo, number 11629.
• Luke Garrod & Ruochen Li & Antonio Russo & Chris M. Wilson, 2025, "Understanding Cost Pass-Through When Prices Are Dispersed," CESifo Working Paper Series, CESifo, number 11635.
• Aaheli Ahmed & Sugata Marjit & Debashis Chakraborty, 2025, "Tariff, Wages and Compensation: A General Oligopolistic Equilibrium Analysis," CESifo Working Paper Series, CESifo, number 11707.
• Shiva Shekhar & Radostina Shopova, 2025, "The Limits of Media See-Saws: Ad-Funded Platform Mergers Can Harm Both Sides," CESifo Working Paper Series, CESifo, number 11768.
• Isabel Gödl-Hanisch & Jordan Pandolfo, 2025, "Monetary Policy Transmission, Bank Market Power, and Income Source," CESifo Working Paper Series, CESifo, number 11847.