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What is the Differentiated Bertrand Model?

Photo by Campaign Creators on Unsplash The Differentiated Bertrand Model is a theoretical model used in economics that explores competition and pricing behavior among firms producing, as inferred, differentiated products. The Bertrand model alone, on the other hand, focuses on homogeneous products. In the differentiated Bertrand model, firms compete for imperfect substitutes. So, consumers have preferences […]

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What are Horizontal Restraints?

Photo by Paul Fiedler on Unsplash Horizontal restraints are contractual agreements between competing firms that restrain trade, such as by fixing prices, limiting production, rigging bids or auctions, or artifically allocating markets or customers. While horizontal restraints aren’t necessarily only anti-competitive—with some having pro-competitive effects as well—many cases of horizontal restraint, like price fixing, are purely

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What are Horizontal Mergers?

Photo by m. on Unsplash Similarly to horizontal restraints, horizontal mergers are mergers between firms that directly compete — take the Discovery and Capital One merger from just a few days ago. Firms compete, in turn, if customer view the firms’ products as substitutes (diversion being the principal metric there). Firms may horizontally merge to increase or protect their

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Unburnable Carbon, Stranded Assets, and the Green Paradox

Photo by Chris LeBoutillier on Unsplash Unburnable carbon is to the notion that the volume of fossil fuels remaining in the ground, specifically that of crude, exceeds humanity’s “budget”, or the carbon emission cap we need to implement to limit temperature rise by 2°C. This forecast turns a significant (majority) portion of world oil reserves into stranded

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