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  • Research Summary

Overview

Professor MacKay combines theory and measurement to deliver new insights about price competition and consumer preferences. In current and published papers, his research addresses how strategic pricing decisions may be influenced by algorithms, long-term contracts,... View Details

Keywords: Price Effects; Competition Policy; Algorithms; Online Competition; Dynamic Pricing; Beliefs; Preferences; Preference Heterogeneity; Preference Measurement; Competition; Microeconomics; Strategy; Integration; Cooperation
  • Article

The Emergence of Mafia-like Business Systems in China

By: Meg Rithmire and Hao Chen
A large body of literature on state–business relations in China has examined the political role of capitalists and collusion between the state and the private sector. This paper contributes to that literature and understanding of the internal differentiation among... View Details
Keywords: China's Political Economy; State-business Relations; Business Groups; Financial System; Business and Government Relations; Finance; Economic Systems; China
Related
  • 27 Feb 2018
  • HBS Seminar

Lin William Cong, University of Chicago Booth School of Business

  • 2021
  • Working Paper

The Emergence of Mafia-like Business Systems in China

By: Meg Rithmire and Hao Chen
A large literature on state-business relations in China has examined the political role of capitalists and collusion between the state and the private sector. This paper contributes to that literature, and our understanding of the internal differentiation among China’s... View Details
Keywords: China's Political Economy; State-business Relations; Business Groups; Financial Systems; Economy; Government and Politics; Business and Government Relations; Finance; System; China
Related
  • 19 Oct 2017
  • HBS Seminar

Dennis Carlton, University of Chicago Booth School of Business

  • October 2003
  • Article

Capture by Threat

By: Ernesto Dal Bo and Rafael Di Tella
We analyze a simple stochastic environment in which policy makers can be threatened by “nasty” interest groups. In the absence of these groups, the policy maker’s desire for reelection guarantees that good policies are implemented for every realization of the shock.... View Details
Keywords: Political Parties; Politicians; Nash Equilibrium; Political Elections
Related
  • 2014
  • Working Paper

Friends with Close Ties: Asset or Liability? Evidence from the Investment Decisions of Mutual Funds in China

By: Xinzi Gao, T.J. Wong, Lijun Xia and Gwen Yu
When fund managers have close ties to their investees, it can facilitate efficient information sharing but can also increase the possibility of favoritism. Using the investment choices of mutual funds in China, we test whether funds with close ties to their investees... View Details
Keywords: Social Ties; Conflict of Interests; Asset Management; Investment Portfolio; Networks; Financial Services Industry; China
Related
  • 2022
  • Article

Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response

By: Alexander MacKay and Samuel N. Weinstein
Pricing algorithms are rapidly transforming markets, from ride-sharing apps, to air travel, to online retail. Regulators and scholars have watched this development with a wary eye. Their focus so far has been on the potential for pricing algorithms to facilitate... View Details
Keywords: Competition Policy; Regulation; Algorithmic Pricing; Dynamic Pricing; Economics; Law And Economics; Law And Regulation; Consumer Protection; Antitrust Law; Industrial Organization; Antitrust Issues And Policies; Technological Change: Choices And Consequences; Competition; Policy; Price; Governing Rules, Regulations, and Reforms; Microeconomics; Duopoly and Oligopoly; Law
Related
  • Research Summary

"Pricing Practices and Market Power in International Cellular Telephone Markets" (with Dana Nunn)

As the cellular telephone market continues to grow throughout the globe, countries must determine how to best promote market growth and innovation while protecting consumers and ensuring competitive rates. The conventional wisdom has been that introducing competition... View Details
  • Web

Entrepreneurial Management - Faculty & Research

and Ricardo Perez-Truglia. "Pushing the Envelope: The Effects of Salary Negotiations." NBER Working Paper Series, No. 33903, June 2025. Collusion in Brokered Markets By: John William Hatfield, Scott Duke Kominers and Richard Lowery June... View Details
  • 07 Jul 2008
  • Research & Ideas

Innovation Corrupted: How Managers Can Avoid Another Enron

or fail to analyze the utter breakdown in board governance and Enron's internal controls, and the failure of credit rating agencies to blow the whistle," he says. "They also overlook the collusion of investment banks in... View Details
Keywords: by Martha Lagace; Energy; Utilities
  • 09 Oct 2001
  • Research & Ideas

Driven: How Human Nature Shapes Organizations

However, without other counterbalancing drives at work, this would in time lead to a tension-free, collusive set of relationships with everyone attending to everyone else's comfort instead of attending to their acquiring drive by focusing... View Details
Keywords: by Paul Lawrence & Nitin Nohria
  • 08 Oct 2020
  • Research & Ideas

Keep Your Weary Workers Engaged and Motivated

example by giving rewards for both individual and team performance. Without direct oversight, “Relationships can all too readily slide into cutthroat competition or totally collusive bonding. Either extreme will harm the firm's... View Details
Keywords: by Boris Groysberg and Robin Abrahams
  • 12 Jul 2004
  • Research & Ideas

Enron’s Lessons for Managers

society—and I use that phrase intentionally—that grew up around the company, and here I'm referring to the collusion of Enron's various advisors and financial intermediaries. And most importantly, Enron is a story about how fraud is often... View Details
Keywords: by Martha Lagace
  • 08 Aug 2017
  • First Look

First Look at Research and Ideas, August 8, 2017

our sample period and a 3% increase in aggregate market capitalization. These findings highlight a novel mechanism through which long-standing corporate behaviors can be transformed. Collusion in Markets with Syndication By: Hatfield,... View Details
Keywords: Sean Silverthorne
  • 05 Jun 2018
  • First Look

New Research and Ideas, June 5, 2018

https://www.hbs.edu/faculty/Pages/item.aspx?num=53636 Collusion in Markets with Syndication By: Hatfield, John William, Scott Duke Kominers, Richard Lowery, and Jordan M. Barry Abstract—Many markets, including the markets for IPOs and... View Details
Keywords: Dina Gerdeman
  • 01 Mar 2007
  • News

Private Equity under Investigation

capital.” Now modern-day trustbusters have again launched an investigation into collusion in financial services, this time focusing on private-equity firms. The Justice Department is concerned that private-equity firms are teaming up to... View Details
Keywords: Josh Lerner; syndication; antitrust enforcement; Funds, Trusts, and Other Financial Vehicles; Finance
  • 14 Mar 2007
  • Op-Ed

Government’s Misguided Probe of Private Equity

capital." Now modern-day trustbusters have again launched an investigation into collusion in financial services, this time focusing on private-equity firms. The Justice Department is concerned that private-equity firms are teaming up... View Details
Keywords: by Josh Lerner; Financial Services
  • 28 Sep 2010
  • First Look

First Look: September 28, 2010

Organization 28, no. 4 (2010) Abstract In a repeated game setting of a vertically related industry, we study the collusive effects of vertical mergers. We show that any vertical merger facilitates upstream collusion, no matter how large... View Details
Keywords: Sean Silverthorne
  • 08 Jul 2002
  • What Do You Think?

Have We Carried the Concept of Alignment Too Far?

on my face, especially considering that during the last five years the U.S. has lectured Asia on ending collusion and cronyism." There is a general tone in responses to this month's column that there are few antidotes, including... View Details
Keywords: by James Heskett