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

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

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

SCHOLARLY PAPERS

65

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12,096

TOTAL CITATIONS
Rank 680

SSRN RANKINGS

Top 680

in Total Papers Citations

646

Scholarly Papers (65)

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1.

Competition and Stability in Banking

Downloads 1,819 (19,099)
Citation 22

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 1,387 (28,306)
Citation 4

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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 432 (133,923)
Citation 18

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2.

Oligopoly, Macroeconomic Performance, and Competition Policy

Downloads 1,069 (41,936)
Citation 17

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 864 (55,624)
Citation 13

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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 205 (293,200)
Citation 4

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

3.

Revisiting the Anticompetitive Effects of Common Ownership

IESE Business School Working Paper , European Corporate Governance Institute – Finance Working Paper No. 827/2022
Number of pages: 49 Posted: 22 Mar 2021 Last Revised: 10 Jun 2022
José Azar and Xavier Vives
University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 813 (61,325)

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Common Ownership, Antitrust, Competition Policy, General Equilibrium

4.

Dynamic Trading and Asset Prices: Keynes vs. Hayek

Downloads 636 (84,164)
Citation 28

Dynamic Trading and Asset Prices: Keynes vs. Hayek

CESifo Working Paper Series No. 2839
Number of pages: 51 Posted: 06 Nov 2009
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 217 (277,815)

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 209 (288,029)
Citation 19

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 206 (291,880)
Citation 5

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 4 (1,248,710)
Citation 4
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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

5.

The Beauty Contest and Short-Term Trading

Downloads 561 (98,808)
Citation 28

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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 410 (142,442)
Citation 4

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 151 (385,232)
Citation 24

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

6.

Information Technology and Lender Competition *

Downloads 555 (100,132)
Citation 13

Information Technology and Lender Competition *

IESE Business School Working Paper
Number of pages: 62 Posted: 10 Jun 2021 Last Revised: 26 Jul 2024
Xavier Vives and Zhiqiang Ye
University of Navarra - IESE Business School and School of Economics, Zhejiang University
Downloads 549 (100,137)
Citation 6

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JEL Classification: G21, G23, I31 credit, monitoring, FinTech, price discrimination, moral hazard, regulation

Information Technology and Bank Competition

CEPR Discussion Paper No. DP16258
Number of pages: 73 Posted: 14 Jul 2021 Last Revised: 04 Feb 2022
Xavier Vives and Zhiqiang Ye
University of Navarra - IESE Business School and School of Economics, Zhejiang University
Downloads 6 (1,222,738)
Citation 7
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Bank stability, Big Data, credit, deposit insurance, Fintech, monitoring/screening, price discrimination, Regulation

7.

High Frequency Trading and Fragility

Downloads 503 (112,962)
Citation 7

High Frequency Trading and Fragility

ECB Working Paper No. 2020
Number of pages: 50 Posted: 15 Feb 2017
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 257 (235,540)

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 146 (396,128)

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 98 (538,416)
Citation 7

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 2 (1,274,948)
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asymmetric information., flash crash, high frequency trading, market fragmentation

8.

Costly Interpretation of Asset Prices

Downloads 413 (142,678)
Citation 10

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 412 (141,660)
Citation 9

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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: 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 1 (1,288,916)
Citation 1
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9.

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 387 (153,562)
Citation 4

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

10.

Exchange Competition, Entry, and Welfare

Downloads 357 (167,883)
Citation 26

Exchange Competition, Entry, and Welfare

Number of pages: 71 Posted: 28 Jan 2019 Last Revised: 09 Jun 2021
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 248 (244,110)
Citation 10

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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: 61 Posted: 06 Nov 2019
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 107 (505,377)
Citation 1

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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: 76 Posted: 07 Jan 2019 Last Revised: 14 Jul 2021
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 2 (1,274,948)
Citation 15
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11.

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

Downloads 353 (169,906)
Citation 8

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 351 (169,531)
Citation 4

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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 2 (1,274,948)
Citation 4
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Collusion, common ownership, competition policy, cross-ownership, innovation, minority shareholdings, partial merger

12.

Strategic Complementarity, Fragility, and Regulation

Downloads 352 (170,406)
Citation 23

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 201 (298,702)
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 143 (402,867)
Citation 10

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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 8 (1,197,150)
Citation 8
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Crises, Disclosure, Illiquidity risk, Insolvency risk, Leverage ratio, Liquidity ratio, Opaqueness, Panic, Run, Stress, Transparency

13.

Dollarization, Bailouts, and the Stability of the Banking System

Downloads 325 (185,726)
Citation 15

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 302 (199,373)
Citation 1

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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 23 (1,014,547)
Citation 14
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Moral hazard, banking crisis, lender of last esort, liquidity, IMF

14.

Expectations, Illiquidity, and Short-Term Trading

Downloads 318 (190,652)
Citation 2

Expectations, Illiquidity, and Short-Term Trading

CESifo Working Paper Series No. 3390
Number of pages: 61 Posted: 29 Mar 2011
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 186 (322,529)
Citation 2

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 127 (442,917)

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 5 (1,235,706)
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Average expectations, Beauty Contest, Expected returns, Multiple equilibria, Over-reliance on public information

15.

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 312 (193,929)
Citation 74

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

16.

Strategic Supply Function Competition with Private Information

Downloads 305 (198,771)
Citation 131

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 138 (414,532)
Citation 61

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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 104 (516,265)
Citation 3

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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 59 (721,213)
Citation 4

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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 4 (1,248,710)
Citation 63
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adverse selection, collusion, competitiveness, imperfect competition, rational expectations, welfare

17.

Market Opacity and Fragility: Why Liquidity Evaporates When It Is Most Needed

IESE Business School Working Paper No. 4339568
Number of pages: 54 Posted: 28 Jan 2023 Last Revised: 02 Dec 2023
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 219 (276,573)
Citation 1

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Liquidity fragility, flash crash, market information

18.

Endogenous Public Information and Welfare in Market Games

Downloads 199 (302,424)
Citation 1

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 139 (412,163)

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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 59 (721,213)
Citation 1

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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 (1,288,916)
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asymmetric information, behavioral traders, information externality, rational expectations, schedule competition, strategic complementarity and substitutability, team solution

19.

Free entry in a Cournot market with overlapping ownership

European Corporate Governance Institute – Finance Working Paper No. 854/2022
Number of pages: 64 Posted: 04 Aug 2022 Last Revised: 29 Jul 2024
Xavier Vives and Orestis Vravosinos
University of Navarra - IESE Business School and New York University - Department of Economics
Downloads 172 (344,788)
Citation 1

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common ownership, cross-ownership, institutional ownership, minority shareholdings, oligopoly, entry, competition policy, antitrust

20.

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 152 (382,907)
Citation 14

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

21.

Ownership Diversification and Product Market Pricing Incentives

Downloads 147 (393,524)

Ownership Diversification and Product Market Pricing Incentives

European Corporate Governance Institute – Finance Working Paper No. 858/2022
Number of pages: 66 Posted: 21 Nov 2022
Albert Banal-Estañol, Jo Seldeslachts and Xavier Vives
Universitat Pompeu Fabra, KU Leuven - Faculty of Business and Economics (FEB) and University of Navarra - IESE Business School
Downloads 118 (469,040)

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Ownership Diversification and Product Market Pricing Incentives

DIW Berlin Discussion Paper No. 2023
Number of pages: 62 Posted: 28 Nov 2022
Albert Banal-Estañol, Jo Seldeslachts and Xavier Vives
Universitat Pompeu Fabra, KU Leuven - Faculty of Business and Economics (FEB) and University of Navarra - IESE Business School
Downloads 29 (952,020)

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Common ownership, investor diversification, product markets

22.

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 145 (397,818)
Citation 7

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

23.

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

Downloads 142 (404,598)
Citation 2

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 87 (581,960)
Citation 1

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

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 51 (771,746)
Citation 1

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supply function competition, private information, wholesale 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, Instituto de Análisis Económico and University of Navarra - IESE Business School
Downloads 4 (1,248,710)
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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

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

24.

Market Transparency and Fragility

Number of pages: 45 Posted: 26 Feb 2019
Giovanni Cespa, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
Downloads 141 (406,873)
Citation 1

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market fragmentation, liquidity fragility, flash crash, asymmetric information

25.

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
Oxera Consulting LLP, University of Navarra - IESE Business School and Universidad Carlos III de Madrid - Departmento de Economia
Downloads 139 (411,351)
Citation 2

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26.

(In)efficiency in Information Acquisition and Aggregation through Prices

Downloads 130 (433,475)
Citation 2

(In)efficiency in Information Acquisition and Aggregation through Prices

IESE Business School Working Paper
Number of pages: 40 Posted: 09 Feb 2022 Last Revised: 02 Mar 2023
Alessandro Pavan, Savitar Sundaresan and Xavier Vives
Northwestern University, Imperial College Business School and University of Navarra - IESE Business School
Downloads 127 (442,917)

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information acquisition, aggregation through prices, information externalities, team efficiency.

(In)Efficiency in Information Acquisition and Aggregation Through Prices

CEPR Discussion Paper No. DP17025
Number of pages: 69 Posted: 29 Mar 2022
Alessandro Pavan, Savitar Sundaresan and Xavier Vives
Northwestern University, Columbia University and University of Navarra - IESE Business School
Downloads 3 (1,261,856)
Citation 2
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aggregation through prices, Information Acquisition, Information externalities, team efficiency

27.

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 128 (438,721)

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28.

Market Power and Welfare in Asymmetric Divisible Good Auctions

Downloads 126 (444,019)
Citation 7

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 74 (640,883)

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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

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 51 (771,746)
Citation 6

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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: 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 1 (1,288,916)
Citation 1
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29.

Climate Risk, Soft Information and Credit Supply

Downloads 117 (469,758)
Citation 2

Climate Risk, Soft Information and Credit Supply

Banco de Espana Working Paper No. 2406
Number of pages: 54 Posted: 28 Feb 2024
Laura Álvarez-Román, Sergio Mayordomo, Carles Vergara-Alert and Xavier Vives
Banco de España, Banco de España, University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 74 (640,883)
Citation 2

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wildfire, asymmetric information, bank heterogeneity, firm lending

Climate Risk, Soft Information, and Credit Supply

Number of pages: 56 Posted: 13 Dec 2023
Laura Álvarez-Román, Sergio Mayordomo, Carles Vergara-Alert and Xavier Vives
Banco de España, Banco de España, University of Navarra, IESE Business School and University of Navarra - IESE Business School
Downloads 43 (829,664)

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Wildfire, Asymmetric Information, Bank Heterogeneity, Firm Lending

30.

Product Market Structure and Monetary Policy: Evidence from the Euro Area

ECB Working Paper No. 2021/2632
Number of pages: 50 Posted: 22 Dec 2021 Last Revised: 12 Jan 2022
Annalisa Ferrando, Peter McAdam, Filippos Petroulakis and Xavier Vives
European Central Bank (ECB), European Central Bank (ECB), Bank of Greece - Economic Research Department and University of Navarra - IESE Business School
Downloads 112 (485,392)

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competition, credit constraints, marginal costs, monetary transmission, OMT

31.

Competitive Rational Expectations Equilibria without Apology

Downloads 95 (544,409)
Citation 1

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 91 (565,427)

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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
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Citation 1
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schizophrenia problem, free entry, information acquisition, large markets, rate of convergence, strategic equilibrium

32.

A Large-Market Rational Expectations Equilibrium Model

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

33.

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 82 (595,898)
Citation 12

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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

34.

Asset Auctions, Information, and Liquidity

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Citation 1

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
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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
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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

35.

Complementarities and Games: New Developments

Number of pages: 65 Posted: 01 Feb 2005
Xavier Vives
University of Navarra - IESE Business School
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36.

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

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Citation 22

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
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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
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Citation 18
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Asymmetric information, Hedging, Multiplicity of equilibria, Rational expectations equilibrium, Risk exposure, Strategic complementarity, Supply information

37.

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
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Multiplicity of Equilibria, Strategic Complementarity, Asymmetric Information

38.

Addressing Banks’ Vulnerability to Deposit Runs: Revisiting the Facts, Arguments and Policy Options

ESRB: Advisory Scientific Committee Reports 2024/15
Number of pages: 64 Posted: 30 Sep 2024
Thorsten Beck, Vasso Ioannidou, Enrico C. Perotti, Antonio Sánchez Serrano, Javier Suarez and Xavier Vives
Florence School of Banking and Finance, Bayes Business School (formerly Cass)Centre for Economic Policy Research (CEPR), University of Amsterdam - Finance Group, European Systemic Risk Board, Centre for Monetary and Financial Studies (CEMFI) and University of Navarra - IESE Business School
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39.

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

40.

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
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Citation 12
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Agglomeration externalities, business services, communication costs, congestion, corporate history, mergers, nested logit, taxes

41.

Innovation and Competitive Pressure

Number of pages: 49 Posted: 21 May 2004
Xavier Vives
University of Navarra - IESE Business School
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Citation 35
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R&D, cost reduction, market concentration, market size, substitutability, product introduction, entry, corporate governance, globalization

42.

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
University of Toulouse Capitole - Toulouse School of Economics and University of Navarra - IESE Business School
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Citation 35
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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

43.

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

44.

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

45.

Fintech Entry, Lending Market Competition, and Welfare 

Number of pages: 73 Posted: 12 Aug 2024 Last Revised: 18 Nov 2024
Xavier Vives and Zhiqiang Ye
University of Navarra - IESE Business School and School of Economics, Zhejiang University
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JEL Classification: G21, G23, I31 digital technology, monitoring, credit, bank restructuring, artificial intelligence, Big Data, price discrimination

46.

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
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Citation 25
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Supermodular games, incomplete information, first-order stochastic dominance, Cournot tatonnement, monotone comparative statics, voluntary disclosure

47.

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

48.

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

49.

Revisiting the Anticompetitive Effects of Common Ownership

CEPR Discussion Paper No. DP16612
Number of pages: 46 Posted: 09 Nov 2021 Last Revised: 23 Jun 2022
Jose Azar and Xavier Vives
Princeton University - Department of Economics and University of Navarra - IESE Business School
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Citation 8
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Antitrust, Common ownership, competition policy, General Equilibrium

50.

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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Citation 9
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Antitrust Policy, Labor Share, market power, oligopsony, ownership, portfolio diversification

51.

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
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Citation 15
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52.

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

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53.

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

54.

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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55.

Private Information, Strategic Behavior, and Efficiency in Cournot Markets

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

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56.

Restructuring Financial Regulation in the European Monetary Union

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

57.

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

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58.

Short-Term Investment and the Informational Eficiency on the Market

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

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59.

Excess Entry, Vertical Integration, and Welfare

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

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60.

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

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61.

Information Aggregation, Strategic Behavior and Efficiency in Cournot Markets

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

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62.

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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63.

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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64.

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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65.

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)

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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, Giovanni Cespa and Xavier Vives
Bayes Business SchoolBayes Business School and University of Navarra - IESE Business School
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Long and short-term trading, multiple equilibria, average expectations, higher order beliefs, public information