Price discrimination in asymmetric Cournot oligopoly

In this article we examine the eects of third degree price discrimination in asymmetric Cournot oligopolies. We show that the average price is not affected by the extent of price discrimination. We nd that the asymmetry between firms is reflected only by the output produced for the lowest-valuation consumers and firms produce equal quantities to the other consumer groups.

Price discrimination in asymmetric Cournot oligopoly

In this article we examine the eects of third degree price discrimination in asymmetric Cournot oligopolies. We show that the average price is not affected by the extent of price discrimination. We nd that the asymmetry between firms is reflected only by the output produced for the lowest-valuation consumers and firms produce equal quantities to the other consumer groups.

Implicit rating: A potential new method to alert crisis on the interbank lending market

A new measure called “implicit rating” is introduced which might be a component of an early warning system. The proposed methodology relies on the aggregation of experts’ knowledge hidden in the transactional data of the interbank market of unsecured loans. Banks are simultaneously assessing the creditworthiness of each other which is reflected in the partner limits and in the interest rates. In the Hungarian interbank market the overall trading volume and the average interest rate did not show any negative trends before the crisis of 2008, however the average implicit partner limit started to decrease several months earlier, hence it might serve as a stress indicator.