Xavier Vives

University of Navarra - IESE Business School

Professor

Avenida Pearson 21

Barcelona, 08034

Spain

http://wwwapp.iese.edu/faculty/facultyDetail.asp?lang=en&prof=xv

Universitat Pompeu Fabra (UPF)

Ramon Trias Fargas, 25-27

Barcelona, 08005

Spain

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Poschinger Str. 5

Munich, DE-81679

Germany

  • University of Navarra - IESE Business School

  • Universitat Pompeu Fabra (UPF)

  • CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

SCHOLARLY PAPERS

51

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5,235

CITATIONS
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347

Scholarly Papers (51)

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1.

Competition and Stability in Banking

Downloads 1,292 ( 14,270)
Citation 16

Competition and Stability in Banking

CESifo Working Paper Series No. 3050
Number of pages: 45 Posted: 20 May 2010
Xavier Vives
University of Navarra - IESE Business School
Downloads 997 (20,820)
Citation 16

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antitrust, regulation, crisis, risk-taking, mergers, state aid, bail-outs

Competition and Stability in Banking

IESE Business School Working Paper No. 852
Posted: 31 May 2010
Xavier Vives
University of Navarra - IESE Business School
Downloads 295 (99,759)
Citation 16

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2.

Dynamic Trading and Asset Prices: Keynes vs. Hayek

Downloads 487 ( 55,842)
Citation 15

Dynamic Trading and Asset Prices: Keynes vs. Hayek

CESifo Working Paper Series No. 2839
Number of pages: 51 Posted: 06 Nov 2009
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 176 (166,696)
Citation 15

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efficient market hypothesis, long and short-term trading, average expectations, higher order beliefs, over-reliance on public information, opaqueness, momentum, reversal

Dynamic Trading and Asset Prices: Keynes Vs. Hayek

AFA 2010 Atlanta Meetings Paper
Number of pages: 49 Posted: 22 Mar 2009
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 159 (182,304)
Citation 15

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Price bias, long and short-term trading, multiple equilibria, average expectations,

Dynamic Trading and Asset Prices: Keynes vs. Hayek

IESE Business School Working Paper No. 716
Number of pages: 51 Posted: 01 Apr 2008
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 150 (191,533)
Citation 15

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Price bias, long and short-term trading, multiple equilibria, average expectations, higher offer beliefs, over-reliance on public information

Dynamic Trading and Asset Prices: Keynes Vs. Hayek

CEPR Discussion Paper No. DP7506
Number of pages: 49 Posted: 17 Nov 2009
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 2 (651,106)
Citation 15
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Average expectations, Efficient market hypothesis, Higher order beliefs, Long and short-term trading, Momentum, Opaqueness, Over-reliance on public information, Reversal

3.

Oligopoly, Macroeconomic Performance, and Competition Policy

Downloads 335 ( 87,212)

Oligopoly, Macroeconomic Performance, and Competition Policy

Number of pages: 56 Posted: 23 May 2018 Last Revised: 20 Dec 2018
José Azar and Xavier Vives
University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 291 (101,225)

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ownership, portfolio diversification, labor share, market power, oligopsony, antitrust policy

Oligopoly, Macroeconomic Performance, and Competition Policy

CESifo Working Paper Series No. 7189
Number of pages: 64 Posted: 06 Nov 2018
José Azar and Xavier Vives
University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 44 (407,746)

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ownership, portfolio diversification, labor share, market power, oligopsony, antitrust policy

4.

The Beauty Contest and Short-Term Trading

Downloads 287 (103,287)
Citation 1

The Beauty Contest and Short-Term Trading

Journal of Finance, Forthcoming
Number of pages: 81 Posted: 10 May 2012 Last Revised: 06 Feb 2015
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 217 (137,027)
Citation 1

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Price speculation, multiple equilibria, average expectations, public information, momentum and reversal, disagreement, volume, volatility

The Beauty Contest and Short-Term Trading

IESE Business School Working Paper No. WP-915-E
Number of pages: 62 Posted: 02 Dec 2015
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 70 (325,755)
Citation 1

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Price speculation, multiple equilibria, average expectations, public information, momentum and reversal, Beauty Contest

5.

Dollarization, Bailouts, and the Stability of the Banking System

Downloads 281 (105,617)
Citation 20

Dollarization, Bailouts, and the Stability of the Banking System

EFA 2001 Barcelona Meetings
Number of pages: 43 Posted: 13 Jul 2001
Xavier Vives and Douglas M. Gale
University of Navarra - IESE Business School and New York University (NYU) - Department of Economics
Downloads 259 (114,570)
Citation 20

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Moral hazard, banking crisis, lender of last resort, liquidity, IMF

Dollarization, Bailouts and the Stability of the Banking System

CEPR Discussion Paper No. 2901
Number of pages: 48 Posted: 28 Aug 2001
Douglas M. Gale and Xavier Vives
New York University (NYU) - Department of Economics and University of Navarra - IESE Business School
Downloads 22 (514,559)
Citation 20
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Moral hazard, banking crisis, lender of last esort, liquidity, IMF

6.

Costly Interpretation of Asset Prices

Downloads 257 (116,027)

Costly Interpretation of Asset Prices

Number of pages: 64 Posted: 14 Apr 2016 Last Revised: 22 Sep 2018
Xavier Vives and Liyan Yang
University of Navarra - IESE Business School and University of Toronto - Rotman School of Management
Downloads 257 (115,506)

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Investor sophistication, asset prices, noise trading, multiplicity, welfare, information acquisition

Costly Interpretation of Asset Prices

CEPR Discussion Paper No. DP12360
Number of pages: 67 Posted: 16 Oct 2017 Last Revised: 02 Oct 2018
Xavier Vives and Liyan Yang
University of Navarra - IESE Business School and University of Toronto - Rotman School of Management
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asset prices, Information Acquisition, Investor sophistication, multiplicity, noise trading, welfare

7.

High Frequency Trading and Fragility

Downloads 253 (117,961)

High Frequency Trading and Fragility

ECB Working Paper No. 2020
Number of pages: 50 Posted: 15 Feb 2017
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 122 (225,967)

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market fragmentation, high frequency trading, ash crash, asymmetric information

High Frequency Trading and Fragility

CESifo Working Paper Series No. 6279
Number of pages: 47 Posted: 07 Feb 2017
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 74 (315,588)

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market fragmentation, high frequency trading, flash crash, asymmetric information

High Frequency Trading and Fragility

IESE Business School Working Paper No. 1161-E
Number of pages: 48 Posted: 17 May 2017
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 56 (366,099)

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market fragmentation; high frequency trading; flash crash; asymmetric information

High Frequency Trading and Fragility

CEPR Discussion Paper No. DP11732
Number of pages: 49 Posted: 03 Jan 2017
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 1 (664,922)
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asymmetric information., flash crash, high frequency trading, market fragmentation

8.

Expectations, Illiquidity, and Short-Term Trading

Downloads 210 (141,736)
Citation 3

Expectations, Illiquidity, and Short-Term Trading

CESifo Working Paper Series No. 3390
Number of pages: 61 Posted: 29 Mar 2011
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 132 (212,640)
Citation 3

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price speculation, multiple equilibria, average expectations, public information, momentum and reversal, Beauty Contest

Higher Order Expectations, Illiquidity, and Short-Term Trading

Number of pages: 69 Posted: 01 Aug 2011
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 74 (315,588)
Citation 3

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Expected returns, multiple equilibria, liquidity risk, average expectations, reliance on public information, momentum and reversal, Beauty Contest.

Higher Order Expectations, Illiquidity, and Short-Term Trading

CEPR Discussion Paper No. DP8303
Number of pages: 46 Posted: 28 Mar 2011
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 4 (632,041)
Citation 3
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Average expectations, Beauty Contest, Expected returns, Multiple equilibria, Over-reliance on public information

9.

Strategic Supply Function Competition with Private Information

Downloads 205 (144,955)
Citation 10

Strategic Supply Function Competition with Private Information

CESifo Working Paper Series No. 2856
Number of pages: 84 Posted: 27 Nov 2009
Xavier Vives
University of Navarra - IESE Business School
Downloads 101 (259,345)
Citation 10

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reverse auction, demand schedule competition, market power, adverse selection, competitiveness, rational expectations, collusion, welfare

Strategic Supply Function Competition with Private Information

CESifo Working Paper Series No. 2410, IESE Business School Working Paper No. 774
Number of pages: 48 Posted: 03 Oct 2008
Xavier Vives
University of Navarra - IESE Business School
Downloads 72 (320,610)
Citation 10

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imperfect competition, adverse selection, competitiveness, rational expectations, collusion, welfare

Strategic Supply Function Competition with Private Information

Cowles Foundation Discussion Paper No. 1736
Number of pages: 80 Posted: 27 Oct 2009
Xavier Vives
University of Navarra - IESE Business School
Downloads 30 (468,547)
Citation 10

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Reverse auction, Demand schedule competition, Market power, Adverse selection, Competitiveness, Rational expectations, Collusion, Welfare

Strategic Supply Function Competition with Private Information

CEPR Discussion Paper No. DP6960
Number of pages: 49 Posted: 02 Dec 2008
Xavier Vives
University of Navarra - IESE Business School
Downloads 2 (651,106)
Citation 10
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adverse selection, collusion, competitiveness, imperfect competition, rational expectations, welfare

10.

Strategic Complementarity, Fragility, and Regulation

Downloads 203 (146,335)
Citation 5

Strategic Complementarity, Fragility, and Regulation

CESifo Working Paper Series No. 3507
Number of pages: 55 Posted: 11 Jul 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 110 (244,040)
Citation 5

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stress, crises, illiquidity risk, insolvency risk, leverage ratio, liquidity ratio, disclosure, transparency, opaqueness, panic, run, derivatives market

Strategic Complementarity, Fragility, and Regulation

IESE Business School Working Paper No. 928
Number of pages: 50 Posted: 21 Oct 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 87 (285,908)
Citation 5

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stress, crises, illiquidity risk, insolvency risk, leverage ratio, liquidity ratio, disclosure, transparency, opaqueness, panic, run, derivates market

Strategic Complementarity, Fragility, and Regulation

CEPR Discussion Paper No. DP8444
Number of pages: 51 Posted: 25 Jun 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 6 (617,959)
Citation 5
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Crises, Disclosure, Illiquidity risk, Insolvency risk, Leverage ratio, Liquidity ratio, Opaqueness, Panic, Run, Stress, Transparency

11.

Cross-Ownership, R&D Spillovers, and Antitrust Policy

Downloads 139 (203,255)

Cross-Ownership, R&D Spillovers, and Antitrust Policy

CESifo Working Paper Series No. 5935
Number of pages: 133 Posted: 06 Jul 2016
Ángel L. López and Xavier Vives
Autonomous University of Barcelona and University of Navarra - IESE Business School
Downloads 138 (205,058)

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competition policy, partial merger, collusion, innovation, minority shareholdings, common ownership, cross-ownership

Overlapping Ownership, R&D Spillovers, and Antitrust Policy

CEPR Discussion Paper No. DP11315
Number of pages: 134 Posted: 13 Jun 2016 Last Revised: 23 Jul 2018
Ángel L. López and Xavier Vives
Autonomous University of Barcelona and University of Navarra - IESE Business School
Downloads 1 (664,922)
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Collusion, common ownership, competition policy, cross-ownership, innovation, minority shareholdings, partial merger

12.

Overlapping Ownership, R&D Spillovers, and Antitrust Policy

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 538/2017
Number of pages: 137 Posted: 09 Nov 2017 Last Revised: 17 Nov 2017
Ángel L. López and Xavier Vives
Autonomous University of Barcelona and University of Navarra - IESE Business School
Downloads 136 (206,846)

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Competition Policy, Partial Merger, Collusion, Innovation, Minority Shareholdings, Common Ownership, Cross-Ownership

13.

Endogenous Public Information and Welfare in Market Games

Downloads 136 (206,846)
Citation 4

Endogenous Public Information and Welfare in Market Games

CESifo Working Paper Series No. 3492
Number of pages: 58 Posted: 15 Jun 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 109 (245,699)
Citation 4

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information externality, strategic complementarity and substitutability, asymmetric information, team solution, rational expectations, schedule competition, behavioral traders

Endogenous Public Information and Welfare

IESE Business School Working Paper No. 925
Number of pages: 37 Posted: 21 Oct 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 26 (490,341)
Citation 4

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information externality, strategic complementary and substitutability, asymetric information, team solution, rational expectations, schedule competition, behavioral traders

Endogenous Public Information and Welfare

CEPR Discussion Paper No. DP8437
Number of pages: 38 Posted: 16 Jun 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 1 (664,922)
Citation 4
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asymmetric information, behavioral traders, information externality, rational expectations, schedule competition, strategic complementarity and substitutability, team solution

14.

Overlapping Ownership, R&D Spillovers, and Antitrust Policy

IESE Business School Working Paper No. Working Paper WP-1140
Number of pages: 131 Posted: 27 Sep 2016 Last Revised: 22 Oct 2017
Angel Luis Lopez and Xavier Vives
Autonomous University of Barcelona and University of Navarra - IESE Business School
Downloads 103 (254,195)

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competition policy; partial merger; collusion; innovation; minority shareholdings; common ownership; cross-ownership

15.

On the Possibility of Informationally Efficient Markets

IESE Business School Working Paper No. 1104-E
Number of pages: 61 Posted: 07 Feb 2015 Last Revised: 21 Nov 2015
Xavier Vives
University of Navarra - IESE Business School
Downloads 87 (283,526)

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Adverse selection, information acquisition, double auction, multi-unit auctions, rate of convergence, market power, complementarities

16.

Games of Strategic Complementarities: An Application to Bayesian Games

IESE Business School Working Paper No. 698
Number of pages: 14 Posted: 02 Nov 2007
Xavier Vives
University of Navarra - IESE Business School
Downloads 86 (285,577)

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17.

Complementarities and Games: New Developments

CEPR Discussion Paper No. 4742
Number of pages: 65 Posted: 01 Feb 2005
Xavier Vives
University of Navarra - IESE Business School
Downloads 70 (322,075)
Citation 38
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18.

Competitive Rational Expectations Equilibria without Apology

Downloads 58 (354,616)
Citation 2

Competitive Rational Expectations Equilibria without Apology

CESifo Working Paper Series No. 2446
Number of pages: 53 Posted: 14 Nov 2008
Alex Kovalenkov and Xavier Vives
University of Glasgow - Department of Econmics and University of Navarra - IESE Business School
Downloads 56 (366,099)
Citation 2

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'schizophrenia' problem, strategic equilibrium, large markets, information acquisition, free entry, rate of convergence

Competitive Rational Expectations Equilibria Without Apology

CEPR Discussion Paper No. DP7025
Number of pages: 51 Posted: 18 Dec 2008
Alex Kovalenkov and Xavier Vives
University of Glasgow - Department of Econmics and University of Navarra - IESE Business School
Downloads 2 (651,106)
Citation 2
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schizophrenia problem, free entry, information acquisition, large markets, rate of convergence, strategic equilibrium

19.

Asset Auctions, Information, and Liquidity

Downloads 47 (389,746)
Citation 2

Asset Auctions, Information, and Liquidity

CESifo Working Paper Series No. 2906
Number of pages: 20 Posted: 22 Jan 2010
Xavier Vives
University of Navarra - IESE Business School
Downloads 46 (400,285)
Citation 2

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adverse selection, market power, reverse auctions, bid shading

Asset Auctions, Information, and Liquidity

CEPR Discussion Paper No. DP7670
Number of pages: 17 Posted: 10 Feb 2010
Xavier Vives
University of Navarra - IESE Business School
Downloads 1 (664,922)
Citation 2
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Adverse selection, Bid shading, Market power, Reverse auctions

Asset Auctions, Information and Liquidity

IESE Business School Working Paper No. 837
Posted: 11 Feb 2010
Xavier Vives
University of Navarra - IESE Business School

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Adverse selection, market power, reverse auctions, bid shading

20.

Why and Where Do Headquarters Move?

CEPR Discussion Paper No. 5070
Number of pages: 53 Posted: 04 Aug 2005
Vanessa Strauss-Kahn and Xavier Vives
INSEAD - Economics and Political Sciences and University of Navarra - IESE Business School
Downloads 44 (400,120)
Citation 10
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Agglomeration externalities, business services, communication costs, congestion, corporate history, mergers, nested logit, taxes

21.

Endogenous Public Information and Welfare in Market Games

IESE Business School Working Paper No. WP-925-E
Number of pages: 58 Posted: 02 Dec 2015
Xavier Vives
University of Navarra - IESE Business School
Downloads 43 (403,752)
Citation 1

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learning externality, complementarity and substitutability, asymmetric information, pecuniary externality, excess volatility, team solution, rational expectations, Tobin tax, labor adjustment, business cycle policy

22.

A Large-Market Rational Expectations Equilibrium Model

Downloads 43 (403,752)

A Large-Market Rational Expectations Equilibrium Model

CESifo Working Paper Series No. 3485
Number of pages: 37 Posted: 15 Jun 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 41 (419,463)

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adverse selection, information acquisition, double auction, multi-unit auctions, rate of convergence, behavioural traders, complementarities

A Large-Market Rational Expectations Equilibrium Model

CEPR Discussion Paper No. DP8426
Number of pages: 38 Posted: 16 Jun 2011
Xavier Vives
University of Navarra - IESE Business School
Downloads 2 (651,106)
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Adverse selection, Behavioral traders, Complementarities, Double auction, Information acquisition, Multi-unit auctions, Rate of convergence

23.

Market Power and Welfare in Asymmetric Divisible Good Auctions

Downloads 37 (426,746)

Market Power and Welfare in Asymmetric Divisible Good Auctions

IESE Business School Working Paper No. 1162-E
Number of pages: 48 Posted: 17 May 2017
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
Downloads 20 (527,057)

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demand/supply schedule competition; private information; liquidity auctions; Treasury auctions; electricity auctions

Market Power and Welfare in Asymmetric Divisible Good Auctions

CESifo Working Paper Series No. 6261
Number of pages: 47 Posted: 01 Feb 2017
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
Downloads 17 (546,045)

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demand/supply schedule competition, private information, liquidity auctions, treasury auctions, electricity auctions

Market Power and Welfare in Asymmetric Divisible Good Auctions

CEPR Discussion Paper No. DP11731
Number of pages: 62 Posted: 03 Jan 2017 Last Revised: 23 Jul 2018
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
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demand/supply schedule competition, electricity auctions, liquidity auctions, private information, Treasury auctions

24.

Information Dispersion and Equilibrium Multiplicity

Number of pages: 24 Posted: 17 Feb 2009
Carolina Manzano Tovar and Xavier Vives
Universitat Rovira i Virgili - Department of Economics and University of Navarra - IESE Business School
Downloads 36 (430,767)

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Multiplicity of Equilibria, Strategic Complementarity, Asymmetric Information

25.

Innovation and Competitive Pressure

Downloads 36 (430,767)
Citation 70

Innovation and Competitive Pressure

CEPR Discussion Paper No. 4369
Number of pages: 49 Posted: 21 May 2004
Xavier Vives
University of Navarra - IESE Business School
Downloads 35 (444,900)
Citation 70
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R&D, cost reduction, market concentration, market size, substitutability, product introduction, entry, corporate governance, globalization

Innovation and Competitive Pressure

The Journal of Industrial Economics, Vol. 56, Issue 3, pp. 419-469, December 2008
Number of pages: 51 Posted: 12 Nov 2008
Xavier Vives
University of Navarra - IESE Business School
Downloads 1 (664,922)
Citation 70
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26.

Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity

Downloads 34 (438,979)
Citation 10

Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity

IESE Business School Working Paper No. 874
Number of pages: 44 Posted: 10 Sep 2010
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
Downloads 32 (458,501)
Citation 10

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Rational expectations equilibrium, strategic complementarity, multiplicity of equilibria, asymmetric information, risk exposure, hedging, supply information

Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity

CEPR Discussion Paper No. DP7949
Number of pages: 45 Posted: 16 Aug 2010
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
Downloads 2 (651,106)
Citation 10
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Asymmetric information, Hedging, Multiplicity of equilibria, Rational expectations equilibrium, Risk exposure, Strategic complementarity, Supply information

27.

Supply Function Competition, Private Information, and Market Power: A Laboratory Study

Downloads 33 (443,195)

Supply Function Competition, Private Information, and Market Power: A Laboratory Study

CESifo Working Paper Series No. 6005
Number of pages: 73 Posted: 23 Aug 2016
Anna Bayona, Jordi Brandts and Xavier Vives
ESADE Business School, Instituto de Analisis Economico (CSIC) Barcelona and University of Navarra - IESE Business School
Downloads 15 (558,801)

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divisible good auction, generalized winner’s curse, correlation neglect, electricity market

Supply Function Competition, Private Information, and Market Power: A Laboratory Study

IESE Business School Working Paper No. WP1146-E
Number of pages: 74 Posted: 28 Sep 2016
Anna Bayona, Jordi Brandts and Xavier Vives
ESADE Business School, Instituto de Analisis Economico (CSIC) Barcelona and University of Navarra - IESE Business School
Downloads 11 (584,892)

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divisible good auction, generalised winner's curse, correlation neglect, electricity market

Supply Function Competition, Private Information, and Market Power: A Laboratory Study

ESADE Business School Research Paper No. 263
Number of pages: 66 Posted: 18 Apr 2017
Anna Bayona, Jordi Brandts and Xavier Vives
ESADE Business School, Instituto de Analisis Economico (CSIC) Barcelona and University of Navarra - IESE Business School
Downloads 7 (611,206)

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divisible good auction, generalised winner’s curse, correlation neglect, electricity market

Supply Function Competition, Private Information, and Market Power: A Laboratory Study

CEPR Discussion Paper No. DP11378
Number of pages: 75 Posted: 11 Jul 2016
Anna Bayona, Jordi Brandts and Xavier Vives
ESADE Business School, affiliation not provided to SSRN and University of Navarra - IESE Business School
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Correlation Neglect, Divisible good auction, electricity market.

28.

Exchange Competition, Entry, and Welfare

Downloads 32 (447,454)

Exchange Competition, Entry, and Welfare

Number of pages: 59 Posted: 28 Jan 2019
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 25 (496,302)

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Market Fragmentation, Welfare, Endogenous Market Structure, Platform Competition, Cournot with Free Entry, Industrial Organization of Exchanges

Exchange Competition, Entry, and Welfare

CESifo Working Paper No. 7432
Number of pages: 53 Posted: 21 Feb 2019
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 7 (611,206)

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market fragmentation, welfare, endogenous market structure, platform competition, Cournot with free entry, industrial organization of exchanges

Exchange Competition, Entry, and Welfare

CEPR Discussion Paper No. DP13415
Number of pages: 54 Posted: 07 Jan 2019
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
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Cournot with free entry, Endogenous Market Structure, Industrial Organization of Exchanges, market fragmentation, platform competition, welfare

29.

Coordination Failures and the Lender of Last Resort: Was Bagehot Right after All?

CEPR Discussion Paper No. 3233
Number of pages: 45 Posted: 21 Mar 2002
Jean-Charles Rochet and Xavier Vives
GFRI, University of Geneva and University of Navarra - IESE Business School
Downloads 30 (456,635)
Citation 103
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Central bank policy, interbank market, prudential regulation, liquidity ratio, solvency ratio, transparency, prompt corrective action, orderly failure resolution, global games, supermodular games

30.

Incentives in Dynamic Duopoly

CEPR Discussion Paper No. 2899
Number of pages: 44 Posted: 21 Aug 2001
Byoung Jun and Xavier Vives
Korea University - Department of Economics and University of Navarra - IESE Business School
Downloads 28 (466,311)
Citation 15
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Adjustment costs, Bertrand, Cournot, differential game, Markov perfect equilibrium, open-loop equilibrium, product differentation, Stackelberg warfare point

31.

Competition and Regulation in the Spanish Gas and Electricity Markets

Reports of the Public-Private Sector Research Center, ISBN: 84-86851-73-4
Number of pages: 187 Posted: 15 Jul 2017
Giulio Federico, Xavier Vives and Natalia Fabra
Chief Economist Team, DG Competition, European Commission, University of Navarra - IESE Business School and Universidad Carlos III de Madrid - Departamento de Economia
Downloads 27 (471,349)
Citation 1

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32.

Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity

CESifo Working Paper Series No. 3137
Number of pages: 47 Posted: 31 Jul 2010
Carolina Manzano Tovar and Xavier Vives
Universitat Rovira i Virgili - Department of Economics and University of Navarra - IESE Business School
Downloads 26 (476,543)

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rational expectations equilibrium, strategic complementarity, multiplicity of equilibria, asymmetric information, risk exposure, bedging, supply information

33.

Regulating Insider Trading When Investment Matters

CEPR Discussion Paper No. 3292
Number of pages: 65 Posted: 30 Apr 2002
Luís Ángel Medrano and Xavier Vives
Universitat Pompeu Fabra and University of Navarra - IESE Business School
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Insider trading selective disclosure, disclose-or-abstain rule, real investment, welfare, hedging, speculation, noise traders

34.

Informational Externalities, Herding and Incentives

CEPR Discussion Paper No. 3080
Number of pages: 23 Posted: 13 Dec 2001
Lluis Bru and Xavier Vives
University of Malaga and University of Navarra - IESE Business School
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Information aggregation, rational expectations, coordination, teams, mechanism design

35.

Market Transparency and Fragility

Number of pages: 45 Posted: 26 Feb 2019
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 23 (492,812)

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market fragmentation, liquidity fragility, flash crash, asymmetric information

36.

Monotone Equilibria in Bayesian Games of Strategic Complementarities

CEPR Discussion Paper No. 4103
Number of pages: 27 Posted: 16 Dec 2003
Timothy Van Zandt and Xavier Vives
INSEAD - Economics and Political Sciences and University of Navarra - IESE Business School
Downloads 22 (498,426)
Citation 14
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Supermodular games, incomplete information, first-order stochastic dominance, Cournot tatonnement, monotone comparative statics, voluntary disclosure

37.

Strategic Complementarities in Multi-Stage Games

CEPR Discussion Paper No. 5583
Number of pages: 20 Posted: 28 Jun 2006
Xavier Vives
University of Navarra - IESE Business School
Downloads 20 (509,657)
Citation 6
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Markov game, supermodularity, two-stage game, adjustment costs, learning curve

38.

Oligopoly, Macroeconomic Performance, and Competition Policy

CEPR Discussion Paper No. DP13000
Number of pages: 59 Posted: 26 Jun 2018 Last Revised: 04 Jan 2019
Jose Azar and Xavier Vives
Princeton University - Department of Economics and University of Navarra - IESE Business School
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Antitrust Policy, Labor Share, market power, oligopsony, ownership, portfolio diversification

39.

Duopoly Information Equilibrium: Cournot and Bertrand

Journal of Economic Theory, Vol. 34, No. 1, 1984
Posted: 16 Feb 2016
Xavier Vives
University of Navarra - IESE Business School

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Duopoly

40.

Banking and Regulation in Emerging Markets: The Role of External Discipline

The World Bank Research Observer, Vol. 21, Issue 2, pp. 179-206, 2006
Posted: 29 Feb 2008
Xavier Vives
University of Navarra - IESE Business School

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41.

Private Information, Strategic Behavior, and Efficiency in Cournot Markets

RAND Journal of Economics, Vol. 33, Autumn 2002
Posted: 29 Oct 2002
Xavier Vives
University of Navarra - IESE Business School

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42.

Restructuring Financial Regulation in the European Monetary Union

Journal of Financial Services Research, Vol. 19, February 2001
Posted: 27 Aug 2001
Xavier Vives
University of Navarra - IESE Business School

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supervision, financial integration, Europe, monetary union, regulatory separation, competition policy

43.

Strategic Behavior and Price Discovery

RAND Journal of Economics, Vol. 32, No. 2, Summer 2001
Posted: 14 Aug 2001
Luís Ángel Medrano and Xavier Vives
Universitat Pompeu Fabra and University of Navarra - IESE Business School

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44.

Short-Term Investment and the Informational Eficiency on the Market

Review of Financial Studies, Volume 7, Number 4, 1994.
Posted: 10 May 2000
Xavier Vives
University of Navarra - IESE Business School

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45.

Excess Entry, Vertical Integration, and Welfare

RAND Journal of Economics, Vol. 30, No. 4
Posted: 11 Apr 2000
Kai-Uwe Kuhn and Xavier Vives
University of East Anglia (UEA) - Centre for Competition Policy and University of Navarra - IESE Business School

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46.

Social Learning and Costly Information Acquisition

Economic Theory, Vol. 15, Issue 1, 2000
Posted: 23 Dec 1999
Roberto Burguet and Xavier Vives
Instituto de Analisis Economico, CSIC and University of Navarra - IESE Business School

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47.

Information Aggregation, Strategic Behavior and Efficiency in Cournot Markets

CEPR Discussion Paper Series No. 2019; and Harvard Institue of Economic Research Paper No. 1824
Posted: 06 Apr 1999
Xavier Vives
University of Navarra - IESE Business School

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48.

Price Dynamics and Consumer Learning

CEPR Discussion Paper Series No. 1744
Posted: 13 Jul 1998
Ramon Caminal and Xavier Vives
Universitat Autonoma de Barcelona - Institut d'Analisi Economica, CSIC and University of Navarra - IESE Business School

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49.

Why Market Shares Matter: An Information-Based Theory

RAND J. OF ECONOMICS, Vol. 27 No. 2
Posted: 05 Jul 1998
Ramon Caminal and Xavier Vives
Universitat Autonoma de Barcelona - Institut d'Analisi Economica, CSIC and University of Navarra - IESE Business School

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50.

The Sources of Irish Growth

CEPR Discussion Paper Series Number 1756
Posted: 03 Mar 1998
Angel de la Fuente and Xavier Vives
Spanish Council for Scientific Research (CSIC) - Insitute for Economic Analysis and University of Navarra - IESE Business School

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51.

Strategic Behaviour and Price Discovery

CEPR Discussion Paper Series Number 1768
Posted: 11 Feb 1998
Xavier Vives and Luís Ángel Medrano
University of Navarra - IESE Business School and Universitat Pompeu Fabra

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Other Papers (1)

Total Downloads: 80    Citations: 14
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1.

Dynamic Trading, Asset Prices, and Bubbles

EFA 2007 Ljubljana Meetings Paper
Number of pages: 46 Posted: 01 Mar 2007
Giovanni Cespa and Xavier Vives
Cass Business School and University of Navarra - IESE Business School
Downloads 80
Citation 14

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Long and short-term trading, multiple equilibria, average expectations, higher order beliefs, public information