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

56

DOWNLOADS
Rank 8,203

SSRN RANKINGS

Top 8,203

in Total Papers Downloads

6,991

SSRN CITATIONS
Rank 566

SSRN RANKINGS

Top 566

in Total Papers Citations

652

CROSSREF CITATIONS

1,123

Scholarly Papers (56)

Actions:
Email selected abstracts
1.

Competition and Stability in Banking

Downloads 1,483 ( 15,385)
Citation 17

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 1,141 (22,463)
Citation 4

Abstract:

Loading...

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 342 (107,878)
Citation 18

Abstract:

Loading...

2.

Oligopoly, Macroeconomic Performance, and Competition Policy

Downloads 707 ( 44,729)
Citation 13

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 651 (49,227)
Citation 16

Abstract:

Loading...

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 56 (453,014)

Abstract:

Loading...

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

3.

Dynamic Trading and Asset Prices: Keynes vs. Hayek

Downloads 520 ( 66,312)
Citation 51

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 189 (196,286)

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 166 (219,948)
Citation 19

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 163 (223,449)
Citation 6

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 2 (800,428)
Citation 6
  • Add to Cart

Abstract:

Loading...

Average expectations, Efficient market hypothesis, Higher order beliefs, Long and short-term trading, Momentum, Opaqueness, Over-reliance on public information, Reversal

4.

High Frequency Trading and Fragility

Downloads 323 (115,701)
Citation 5

High Frequency Trading and Fragility

ECB Working Paper No. 2020
Number of pages: 50 Posted: 15 Feb 2017
Giovanni Cespa and Xavier Vives
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 172 (213,254)

Abstract:

Loading...

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

Market Transparency and Fragility

CESifo Working Paper Series No. 6279
Number of pages: 46 Posted: 07 Feb 2017
Giovanni Cespa and Xavier Vives
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 86 (357,375)

Abstract:

Loading...

market fragmentation, liquidity fragility, 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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 64 (423,385)
Citation 7

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 1 (813,698)
  • Add to Cart

Abstract:

Loading...

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

5.

The Beauty Contest and Short-Term Trading

Downloads 316 (118,375)
Citation 17

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 236 (159,042)
Citation 4

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 80 (373,594)
Citation 12

Abstract:

Loading...

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

6.

Costly Interpretation of Asset Prices

Downloads 312 (120,023)
Citation 7

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 312 (119,291)
Citation 9

Abstract:

Loading...

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

Costly Interpretation of Asset Prices

CEPR Discussion Paper No. DP12360
Number of pages: 52 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
Downloads 0
  • Add to Cart

Abstract:

Loading...

7.

Dollarization, Bailouts, and the Stability of the Banking System

Downloads 292 (128,729)
Citation 31

Dollarization, Bailouts, and the Stability of the Banking System

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 270 (138,978)
Citation 1

Abstract:

Loading...

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

Dollarization, Bailouts and the Stability of the Banking System

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 (634,177)
Citation 7
  • Add to Cart

Abstract:

Loading...

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

8.

General Equilibrium Oligopoly and Ownership Structure

Number of pages: 56 Posted: 31 Dec 2019 Last Revised: 15 May 2020
José Azar and Xavier Vives
University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 252 (149,713)
Citation 3

Abstract:

Loading...

common ownership, portfolio diversification, macroeconomy, corporate governance, labor share, market power, oligopsony, antitrust policy

9.

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

Downloads 242 (155,718)
Citation 3

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 241 (155,837)
Citation 3

Abstract:

Loading...

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 (813,698)
  • Add to Cart

Abstract:

Loading...

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

10.

Expectations, Illiquidity, and Short-Term Trading

Downloads 240 (156,973)

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 151 (238,373)

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 85 (360,054)

Abstract:

Loading...

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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 4 (780,603)
  • Add to Cart

Abstract:

Loading...

Average expectations, Beauty Contest, Expected returns, Multiple equilibria, Over-reliance on public information

11.

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 219 (171,381)
Citation 21

Abstract:

Loading...

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

12.

Strategic Complementarity, Fragility, and Regulation

Downloads 217 (172,933)
Citation 38

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 117 (290,728)
Citation 1

Abstract:

Loading...

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 94 (337,730)
Citation 10

Abstract:

Loading...

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 (763,662)
Citation 8
  • Add to Cart

Abstract:

Loading...

Crises, Disclosure, Illiquidity risk, Insolvency risk, Leverage ratio, Liquidity ratio, Opaqueness, Panic, Run, Stress, Transparency

13.

Strategic Supply Function Competition with Private Information

Downloads 215 (174,428)
Citation 79

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 105 (313,765)
Citation 10

Abstract:

Loading...

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 75 (388,048)
Citation 2

Abstract:

Loading...

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 33 (560,833)
Citation 4

Abstract:

Loading...

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 (800,428)
Citation 63
  • Add to Cart

Abstract:

Loading...

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

14.

Endogenous Public Information and Welfare in Market Games

Downloads 149 (240,433)
Citation 2

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 114 (296,040)

Abstract:

Loading...

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 34 (555,110)
Citation 2

Abstract:

Loading...

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 (813,698)
  • Add to Cart

Abstract:

Loading...

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

15.

Exchange Competition, Entry, and Welfare

Downloads 126 (274,072)
Citation 3

Exchange Competition, Entry, and Welfare

Number of pages: 71 Posted: 28 Jan 2019 Last Revised: 09 Jun 2021
Giovanni Cespa and Xavier Vives
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 104 (315,851)
Citation 10

Abstract:

Loading...

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: 61 Posted: 06 Nov 2019
Giovanni Cespa and Xavier Vives
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 22 (634,177)

Abstract:

Loading...

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: 76 Posted: 07 Jan 2019 Last Revised: 14 Jul 2021
Giovanni Cespa and Xavier Vives
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 0
  • Add to Cart

Abstract:

Loading...

16.

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 123 (279,025)
Citation 12

Abstract:

Loading...

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

17.

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 115 (292,757)
Citation 7

Abstract:

Loading...

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

18.

Revisiting the Anticompetitive Effects of Common Ownership

IESE Business School Working Paper
Number of pages: 46 Posted: 22 Mar 2021
José Azar and Xavier Vives
University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 106 (309,856)

Abstract:

Loading...

Common Ownership, Antitrust, Competition Policy, General Equilibrium

19.

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 94 (335,141)

Abstract:

Loading...

20.

Information Technology and Bank Competition

Downloads 77 (378,115)

Information Technology and Bank Competition

IESE Business School Working Paper
Number of pages: 73 Posted: 10 Jun 2021 Last Revised: 20 Jul 2021
Xavier Vives and Zhiqiang Ye
University of Navarra - IESE Business School and University of Navarra, IESE Business School
Downloads 77 (382,114)

Abstract:

Loading...

bank stability, credit, monitoring/screening, FinTech, Big Data, price discrimination, deposit insurance, regulation

Information Technology and Bank Competition

CEPR Discussion Paper No. DP16258
Number of pages: 70 Posted: 14 Jul 2021
Xavier Vives and Zhiqiang Ye
University of Navarra - IESE Business School and University of Navarra, IESE Business School
Downloads 0
  • Add to Cart

Abstract:

Loading...

21.

Market Power and Welfare in Asymmetric Divisible Good Auctions

Downloads 72 (392,610)
Citation 4

Market Power and Welfare in Asymmetric Divisible Good Auctions

CESifo Working Paper Series No. 6261
Number of pages: 61 Posted: 19 Mar 2020
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
Downloads 44 (503,807)

Abstract:

Loading...

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

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 28 (591,533)
Citation 6

Abstract:

Loading...

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: 50 Posted: 03 Jan 2017 Last Revised: 02 Mar 2020
Carolina Manzano and Xavier Vives
Universitat Rovira Virgili and University of Navarra - IESE Business School
Downloads 0
  • Add to Cart

Abstract:

Loading...

22.

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 - Departmento de Economia
Downloads 70 (398,649)
Citation 2

Abstract:

Loading...

23.

Complementarities and Games: New Developments

Number of pages: 65 Posted: 01 Feb 2005
Xavier Vives
University of Navarra - IESE Business School
Downloads 70 (398,649)
Citation 14
  • Add to Cart

Abstract:

Loading...

24.

Competitive Rational Expectations Equilibria without Apology

Downloads 64 (417,878)
Citation 4

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 62 (430,457)

Abstract:

Loading...

'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 (800,428)
  • Add to Cart

Abstract:

Loading...

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

25.

Asset Auctions, Information, and Liquidity

Downloads 56 (446,108)
Citation 7

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 55 (456,881)

Abstract:

Loading...

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 (813,698)
  • Add to Cart

Abstract:

Loading...

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

Abstract:

Loading...

Adverse selection, market power, reverse auctions, bid shading

26.

A Large-Market Rational Expectations Equilibrium Model

Downloads 54 (453,394)

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 52 (468,685)

Abstract:

Loading...

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 (800,428)
  • Add to Cart

Abstract:

Loading...

Adverse selection, Behavioral traders, Complementarities, Double auction, Information acquisition, Multi-unit auctions, Rate of convergence

27.

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 52 (460,960)
Citation 12

Abstract:

Loading...

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

28.

Market Transparency and Fragility

Number of pages: 45 Posted: 26 Feb 2019
Giovanni Cespa and Xavier Vives
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 49 (472,953)
Citation 2

Abstract:

Loading...

market fragmentation, liquidity fragility, flash crash, asymmetric information

29.

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 (494,158)
Citation 9
  • Add to Cart

Abstract:

Loading...

Agglomeration externalities, business services, communication costs, congestion, corporate history, mergers, nested logit, taxes

30.

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

Downloads 40 (512,372)
Citation 36

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 38 (533,379)
Citation 4

Abstract:

Loading...

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 (800,428)
Citation 9
  • Add to Cart

Abstract:

Loading...

Asymmetric information, Hedging, Multiplicity of equilibria, Rational expectations equilibrium, Risk exposure, Strategic complementarity, Supply information

31.

Information Dispersion and Equilibrium Multiplicity

Number of pages: 24 Posted: 17 Feb 2009
Carolina Manzano Tovar and Xavier Vives
Rovira i Virgili University - Department of Economics and University of Navarra - IESE Business School
Downloads 39 (517,054)

Abstract:

Loading...

Multiplicity of Equilibria, Strategic Complementarity, Asymmetric Information

32.

Information Frictions and Market Power: A Laboratory Study

Downloads 37 (526,645)

Information Frictions and Market Power: A Laboratory Study

CESifo Working Paper Series No. 6005
Number of pages: 30 Posted: 15 Jul 2020
Anna Bayona, Jordi Brandts and Xavier Vives
ESADE Business School, Instituto de Analisis Economico (CSIC) Barcelona and University of Navarra - IESE Business School
Downloads 22 (634,177)

Abstract:

Loading...

supply function competition, private information, wholesale 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 15 (688,187)
Citation 1

Abstract:

Loading...

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

Information Frictions and Market Power: A Laboratory Study

CEPR Discussion Paper No. DP11378
Number of pages: 32 Posted: 11 Jul 2016 Last Revised: 18 May 2020
Anna Bayona, Jordi Brandts and Xavier Vives
ESADE Business School, affiliation not provided to SSRN and University of Navarra - IESE Business School
Downloads 0
  • Add to Cart

Abstract:

Loading...

private information, Supply function competition, wholesale electricity market

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

ESADE Business School Research Paper No. 263
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

Abstract:

Loading...

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

33.

Innovation and Competitive Pressure

Downloads 36 (531,661)
Citation 158

Innovation and Competitive Pressure

Number of pages: 49 Posted: 21 May 2004
Xavier Vives
University of Navarra - IESE Business School
Downloads 35 (549,464)
Citation 35
  • Add to Cart

Abstract:

Loading...

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 (813,698)
  • Add to Cart

Abstract:

Loading...

34.

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
Rovira i Virgili University - Department of Economics and University of Navarra - IESE Business School
Downloads 30 (563,772)

Abstract:

Loading...

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

35.

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

Number of pages: 45 Posted: 21 Mar 2002
Jean-Charles Rochet and Xavier Vives
Swiss Finance Institute and University of Navarra - IESE Business School
Downloads 30 (563,772)
Citation 35
  • Add to Cart

Abstract:

Loading...

Central bank policy, interbank market, prudential regulation, liquidity ratio, solvency ratio, transparency, prompt corrective action, orderly failure resolution, global games, supermodular games

36.

Incentives in Dynamic Duopoly

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 (575,583)
Citation 2
  • Add to Cart

Abstract:

Loading...

Adjustment costs, Bertrand, Cournot, differential game, Markov perfect equilibrium, open-loop equilibrium, product differentation, Stackelberg warfare point

37.

Regulating Insider Trading When Investment Matters

Number of pages: 65 Posted: 30 Apr 2002
Luís Ángel Medrano and Xavier Vives
Universitat Pompeu Fabra and University of Navarra - IESE Business School
Downloads 25 (594,482)
Citation 1
  • Add to Cart

Abstract:

Loading...

Insider trading selective disclosure, disclose-or-abstain rule, real investment, welfare, hedging, speculation, noise traders

38.

Informational Externalities, Herding and Incentives

Number of pages: 23 Posted: 13 Dec 2001
Lluis Bru and Xavier Vives
University of Malaga and University of Navarra - IESE Business School
Downloads 24 (601,076)
Citation 2
  • Add to Cart

Abstract:

Loading...

Information aggregation, rational expectations, coordination, teams, mechanism design

39.

Monotone Equilibria in Bayesian Games of Strategic Complementarities

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 (614,608)
Citation 10
  • Add to Cart

Abstract:

Loading...

Supermodular games, incomplete information, first-order stochastic dominance, Cournot tatonnement, monotone comparative statics, voluntary disclosure

40.

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 (628,357)
Citation 4
  • Add to Cart

Abstract:

Loading...

Markov game, supermodularity, two-stage game, adjustment costs, learning curve

41.

General Equilibrium Oligopoly and Ownership Structure

CEPR Discussion Paper No. DP15499
Number of pages: 59 Posted: 23 Dec 2020
Jose Azar and Xavier Vives
Princeton University - Department of Economics and University of Navarra - IESE Business School
Downloads 1 (777,810)
  • Add to Cart

Abstract:

Loading...

42.

Digital Disruption in Banking

Annual Review of Financial Economics, Vol. 11, pp. 243-272, 2019
Posted: 12 Jan 2020
Xavier Vives
University of Navarra - IESE Business School

Abstract:

Loading...

43.

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
Downloads 0 (794,839)
Citation 9
  • Add to Cart

Abstract:

Loading...

Antitrust Policy, Labor Share, market power, oligopsony, ownership, portfolio diversification

44.

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

Abstract:

Loading...

Duopoly

45.

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

Abstract:

Loading...

46.

Private Information, Strategic Behavior, and Efficiency in Cournot Markets

Posted: 29 Oct 2002
Xavier Vives
University of Navarra - IESE Business School

Abstract:

Loading...

47.

Restructuring Financial Regulation in the European Monetary Union

Posted: 27 Aug 2001
Xavier Vives
University of Navarra - IESE Business School

Abstract:

Loading...

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

48.

Strategic Behavior and Price Discovery

Posted: 14 Aug 2001
Luís Ángel Medrano and Xavier Vives
Universitat Pompeu Fabra and University of Navarra - IESE Business School

Abstract:

Loading...

49.

Short-Term Investment and the Informational Eficiency on the Market

Posted: 10 May 2000
Xavier Vives
University of Navarra - IESE Business School

Abstract:

Loading...

50.

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

Abstract:

Loading...

51.

Social Learning and Costly Information Acquisition

Posted: 23 Dec 1999
Roberto Burguet and Xavier Vives
Instituto de Analisis Economico, CSIC and University of Navarra - IESE Business School

Abstract:

Loading...

52.

Information Aggregation, Strategic Behavior and Efficiency in Cournot Markets

Posted: 06 Apr 1999
Xavier Vives
University of Navarra - IESE Business School

Abstract:

Loading...

53.

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

Abstract:

Loading...

54.

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

Abstract:

Loading...

55.

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

Abstract:

Loading...

56.

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

Abstract:

Loading...

Other Papers (1)

Total Downloads: 96
Actions:
Email selected abstracts
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
City University London - Sir John Cass Business School and University of Navarra - IESE Business School
Downloads 96

Abstract:

Loading...

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