{"id":28,"date":"2011-06-16T08:40:50","date_gmt":"2011-06-16T08:40:50","guid":{"rendered":"https:\/\/blog.iese.edu\/xvives\/?page_id=28"},"modified":"2025-06-02T09:35:51","modified_gmt":"2025-06-02T08:35:51","slug":"journal-articles","status":"publish","type":"page","link":"https:\/\/blog.iese.edu\/xvives\/publications\/journal-articles\/","title":{"rendered":"Journal Articles"},"content":{"rendered":"<table class=\"pagTexto\" border=\"0\" width=\"100%\" cellspacing=\"5\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><\/td>\n<\/tr>\n<tr>\n<td width=\"3%\"><\/td>\n<td width=\"97%\">\n<ul>\n<li><a title=\"\u201cDuopoly Information Equilibrium: Cournot and Bertrand\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0022053184901625\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Duopoly Information Equilibrium: Cournot and Bertrand&#8221;, <em>Journal of Economic Theory<\/em>, 34, 1, October <\/a>1984, 71-94. Reprinted in Cournot Oligopoly: Characterization and Applications, A. Daughety (ed.), Cambridge University Press, 1988. Reprinted in Microeconomic Theories of Imperfect Competition: Old Problems and New Perspectives, J. Gabszewicz and J.-F. Thisse (ed.), Edwar Elgar Publisher Ltd, UK, 1999.<\/li>\n<li><a title=\"Price and Quantity Competition in a Differentiated Duopoly\" href=\"https:\/\/www.jstor.org\/stable\/2555525\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Price and Quantity Competition in a Differentiated Duopoly&#8221;<\/a>\u00a0(with N. Singh), <em>The Rand Journal of Economics<\/em>, 15, 4, 1984, 546-554.<\/li>\n<li><a title=\"\u201cOn the Efficiency of Bertrand and Cournot Equilibria with Product Differentiation\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0022053185900869\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;On the Efficiency of Bertrand and Cournot Equilibria with Product Differentiation&#8221;<\/a>, <em>Journal of Economic Theory<\/em>, 36, 1, June 1985, 166-175. Reprinted in <em>Cournot Oligopoly: Characterization and Applications<\/em>, A. Daughety (ed.), Cambridge University Press, 1988. Reprinted in <em>The Economics of Product Differentiation,<\/em> Vol. II, J-F Thisse and G. Norman (eds.), International Library of Critical Writings in Economics, no. 37, Aldershot, U.K.: Elgar, 1994, 34-43.<\/li>\n<li><a title=\"\u201cEntry Deterrence and the Free Rider Problem\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297592\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Entry Deterrence and the Free Rider Problem&#8221;<\/a>\u00a0(with R. Gilbert),<em> Review of Economic Studies<\/em>, 53, 1, January 1986, 71-83.<\/li>\n<li><a title=\"\u201cCommitment, Flexibility and Market Outcomes\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0167718786900329\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Commitment, Flexibility and Market Outcomes&#8221;<\/a>, <em>International Journal of Industrial Organization<\/em>, 4, 2, 1986, 217-229. Reprinted in <em>Market Strategy and Structure<\/em>, J.M. Alec Gee and G. Norman (eds.), Harvester Wheatsheaf, 1992.<\/li>\n<li><a title=\"\u2022 \u201cRationing Rules and Bertrand-Edgeworth Equilibria in Large Markets\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0165176586900479\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Rationing Rules and Bertrand-Edgeworth Equilibria in Large Markets&#8221;<\/a>, <em>Economics Letters<\/em>, 21, 1986, 113-116.<\/li>\n<li><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Small Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand&#8221;<\/a>, <em>Review of Economic Studies<\/em>, 40, January 1987, 87-103.<\/li>\n<li><a title=\"\u2022 \u201cBank Runs as an Equilibrium Phenomenon\u201d\" href=\"https:\/\/www.jstor.org\/stable\/1831974\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Bank Runs as an Equilibrium Phenomenon&#8221;<\/a>\u00a0(with A. Postlewaite), <em>Journal of Political Economy<\/em>, 95, 3, June 1987, 485-491.<\/li>\n<li><a title=\"\u2022 \u201cSequential Entry, Industrial Structure, and Welfare\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0014292188900256\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Sequential Entry, Industrial Structure, and Welfare&#8221;<\/a>, <em>European Economic Review<\/em>, 32, October 1988, 1671-1687.<\/li>\n<li><a href=\"https:\/\/www.jstor.org\/stable\/1912702?seq=1#page_scan_tab_contents\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Aggregation of Information in Large Cournot Markets&#8221;<\/a>, <em>Econometrica<\/em>, 56, 4, July 1988, 851-876.<\/li>\n<li><a title=\"\u2022 \u201cOn the Strategic Choice of Spatial Price Policy\u201d\" href=\"https:\/\/www.jstor.org\/stable\/1814702?seq=1#page_scan_tab_contents\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;On the Strategic Choice of Spatial Price Policy&#8221;<\/a>\u00a0(with J.F. Thisse), <em>American Economic Review<\/em>, 78, 1, March 1988, 122-137. Reprinted in <em>The Economics of Location<\/em>, Vol. II, Melvin L. Greenhut and George Norman (eds.), Elgar Reference Collection: International Library of Critical Writings in Economics, Vol. 42. Aldershot, U.K.: Elgar, 1995, 401-416.<\/li>\n<li><a title=\"\u2022 \u201cCollusion by Asymmetrically Informed Duopolists\u201d \" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0176268089900566\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Collusion by Asymmetrically Informed Duopolists&#8221;<\/a> (with R. Kihlstrom), <em>European Journal of Political Economy<\/em>, 5, 1989, 371-402.<\/li>\n<li><a title=\"\u2022 \u201cTechnological Competition, Uncertainty and Oligopoly\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0022053189900343\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Technological Competition, Uncertainty and Oligopoly&#8221;<\/a>, <em>Journal of Economic Theory<\/em>, 48, 2, August 1989, 386-415.<\/li>\n<li><a title=\"\u2022 \u201cCournot and the Oligopoly Problem\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0014292189901293\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Cournot and the Oligopoly Problem&#8221;<\/a>, <em>European Economic Review<\/em>, 33, 1989, 503-514.<\/li>\n<li><a title=\"\u2022 \u201cInformation and Competitive Advantage\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0167718789900325\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Information and Competitive Advantage&#8221;<\/a>, <em>International Journal of Industrial Organization<\/em>, 8, 1990, 17-35.<\/li>\n<li><a title=\"\u2022 \u201cNash Equilibrium with Strategic Complementarities\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/030440689090005T\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Nash Equilibrium with Strategic Complementarities&#8221;<\/a>, <em>Journal of Mathematical Economics<\/em>, 19, 3, 1990, 305-321.<\/li>\n<li><a title=\"\u2022 \u201cDeregulation and Competition in Spanish Banking\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/001429219090113D\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Deregulation and Competition in Spanish Banking&#8221;<\/a>, <em>European Economic Review<\/em>, P&amp;P, 34, 1990, 403-415.<\/li>\n<li><a title=\"\u2022 \u201cTrade Association Disclosure Rules, Incentives to Share Information and Welfare\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2555617\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Trade Association Disclosure Rules, Incentives to Share Information and Welfare&#8221;<\/a>, <em>Rand Journal of Economics<\/em>, 21, 3, Autumn 1990, 409-430.<\/li>\n<li><a title=\"\u2022 \u201cRegulatory Reform in European Banking\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0014292191901529\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Regulatory Reform in European Banking&#8221;<\/a>, <em>European Economic Review<\/em>, 35, 1991, 505-515.<\/li>\n<li><a title=\"\u2022 \u201cBasing point pricing: Competition versus Collusion\u201d\" href=\"https:\/\/www.jindec.org\/article\/basing-point-pricing-competition-versus-collusion\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Basing point pricing: Competition versus Collusion&#8221;<\/a> (with J. Thisse), <em>Journal of Industrial Economics<\/em>, 40, 3, September 1992, 249-260.<\/li>\n<li><a title=\"\u2022 \u201cCollusion by Asymmetrically Informed Firms\u201d\" href=\"https:\/\/econpapers.repec.org\/article\/blajemstr\/v_3a1_3ay_3a1992_3ai_3a2_3ap_3a371-96.htm\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Collusion by Asymmetrically Informed Firms&#8221;<\/a> (joint with R. Kihlstrom), <em>Journal of Economics and Management Strategy<\/em>, 1, 2, Summer 1992, 371-396.<\/li>\n<li><a title=\"\u2022 \u201cHow fast do rational agents learn?\u201d\" href=\"https:\/\/restud.oxfordjournals.org\/content\/60\/2\/329.short\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;How fast do rational agents learn?<\/a>&#8220;, <em>Review of Economic Studies,<\/em> 60, 1993, 329-347.<\/li>\n<li><a title=\"\u2022 \u201cEdgeworth and Modern Oligopoly Theory\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0014292193900359\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Edgeworth and Modern Oligopoly Theory&#8221;<\/a>, <em>European Economic Review<\/em>, 37, 2\/3, April 1993, 463-476.<\/li>\n<li><a title=\"\u2022 \u201cImplementation in Economies with a Continuum of Agents\u201d \" href=\"https:\/\/www.jstor.org\/stable\/2298127\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Implementation in Economies with a Continuum of Agents&#8221;<\/a> (with A. Mas-Colell), <em>Review of Economic Studies<\/em>, 60, 1993, 613-629.<\/li>\n<li><a title=\"\u2022 \u201cInformation, flexibility and competition\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0889158383710130\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Information, flexibility and competition&#8221;<\/a>, <em>Journal of the Japanese and International Economies<\/em>, 7, 1993, 219-237.<\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2023\/12\/The_supervisory_function.pdf\">&#8220;The Supervisory Function of the European System of Central Banks&#8221;<\/a> in<em> Prudential Regulation, Supervision and Monetary Policy<\/em>, Franco Bruni (ed.), Universit\u00e0 Commerciale Luigi Bocconi, Milan, 1993, and in<em> Giornale degli Economisti e Annali di Economia,<\/em> 51, October-December 1992, 523-532.<\/li>\n<li><a title=\"\u2022 \u201cShort term investment and the informational efficiency of the market\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2962192\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Short term investment and the informational efficiency of the market&#8221;<\/a>, <em>Review of Financial Studies<\/em>, 8, 1, 1995, 125-160.<\/li>\n<li><a title=\"\u201cInfrastructure and education as instruments of regional policy: evidence from Spain\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/1344537\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Infrastructure and education as instruments of regional policy: evidence from Spain&#8221;<\/a> (with A. de la Fuente), <em>Economic<\/em> <em>Policy<\/em>, 10, 20, 1995, 13-51. Reprinted in <em>International Economic Integration: Limits and Prospects<\/em>, M. Jovanovic (ed.), Routledge.<\/li>\n<li><a title=\"\u2022 \u201cThe speed of information revelation in a financial market mechanism\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022053185710708\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;The speed of information revelation in a financial market mechanism&#8221;<\/a>, <em>Journal of Economic Theory<\/em>, 67, 1, 1995, 178-204.<\/li>\n<li><a title=\"\u2022 \u201cWhy market share matters: An information-based theory\u201d \" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/2555924\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Why market share matters: An information-based theory&#8221;<\/a> (with R. Caminal), <em>Rand Journal of Economics<\/em>, 27, 2, 1996, 221-239.<\/li>\n<li><a title=\"\u2022 \u201cSocial learning and rational expectations\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/0014292195000720\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Social learning and rational expectations&#8221;<\/a>, <em>European Economic Review<\/em>, 40, 3-5, 1996, 589-601.<\/li>\n<li>&#8220;<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S1042957396900108\" target=\"_blank\" rel=\"noopener noreferrer\">Competition for Deposits, Fragility, and Insurance<\/a>&#8220;, (with C. Matutes), <em>Journal of Financial Intermediation<\/em>, 5, 1996, 184-216.<\/li>\n<li><a title=\"\u2022 \u201cLearning and convergence to a full-information equilibrium are not equivalent\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297798\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Learning and convergence to a full-information equilibrium are not equivalent&#8221;<\/a>\u00a0(with B. Jun), <em>Review of Economic Studies<\/em>, 63, 4, 1996, 653-674.<\/li>\n<li><a title=\"\u2022 \u201cLearning from others: a welfare analysis\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0899825697905625\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Learning from others: a welfare analysis&#8221;<\/a>, <em>Games and Economic Behavior<\/em>, 20, 1997, 177-200.<\/li>\n<li><a title=\"\u2022 \u201cPrice Dynamics and Consumer Learning\u201d\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/j.1430-9134.1999.00095.x\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Price Dynamics and Consumer Learning&#8221;<\/a>\u00a0(with R. Caminal), <em>Journal of Economics and Management Strategy<\/em>, 8, 1, 1999, 95-131.<\/li>\n<li><a title=\"\u2022 \u201cExcess Entry, Vertical Integration, and Welfare\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/2556066\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Excess Entry, Vertical Integration, and Welfare&#8221;<\/a> (with K-U. K\u00fchn), <em>Rand Journal of Economics<\/em>, 30, 4, 1999, 575-603.<\/li>\n<li><a title=\"\u2022 \u201cSocial Learning and Costly Information Acquisition\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/25055260\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Social Learning and Costly Information Acquisition&#8221; <\/a>(with R. Burguet), <em>Economic Theory<\/em>, 15, 1, 2000, 185-205.<\/li>\n<li>&#8220;<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0014292198000579\" target=\"_blank\" rel=\"noopener noreferrer\">Imperfect Competition, Risk Taking, and Regulation in Banking<\/a>&#8221;\u00a0(with C. Matutes), <em>European Economic Review<\/em>, 44, 2000, 1-34. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/framework-banking-structural-reform\" target=\"_blank\" rel=\"noopener\">VoxEU column.<\/a><\/span><\/li>\n<li><a title=\"\u2022 \u201cRestructuring Financial Regulation in the European Monetary Union\u201d\" href=\"https:\/\/link.springer.com\/article\/10.1023\/A%3A1011133401170\" target=\"_blank\" rel=\"noopener noreferrer\">\u201cRestructuring Financial Regulation in the European Monetary Union\u201d<\/a>,<em> Journal of Financial Services Research<\/em>, 19, 1, 2001, 57-82. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/banking-union-and-financial-architecture-eurozone-retrospective\" target=\"_blank\" rel=\"noopener\">VoxEU column<\/a><\/span>.<\/li>\n<li><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cStrategic Behavior and Price Discovery\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/2696407\" target=\"_blank\" rel=\"noopener noreferrer\">Strategic Behavior and Price Discovery<\/a><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with L. A. Medrano), <em>Rand Journal of Economics<\/em>, 32, 2, 2001, 221-248.<\/li>\n<li><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cCompetition in the Changing World of Banking\u201d\" href=\"https:\/\/oxrep.oxfordjournals.org\/content\/17\/4\/535.abstract\" target=\"_blank\" rel=\"noopener noreferrer\">Competition in the Changing World of Banking<\/a><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>,<em> Oxford Review of Economic Policy<\/em>, 17, 4, 2001, 535-547.<\/li>\n<li><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/www.jstor.org\/stable\/40753057?seq=1#page_scan_tab_contents\" target=\"_blank\" rel=\"noopener noreferrer\">Informational Externalities, Herding, and Incentives<\/a><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with L. Bru), <em>Journal of Institutional and Theoretical Economics<\/em>, 158, 1, 2002, 91-105. <span style=\"color: #000000;\"><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/44-Informational-externalities-herding-and-incentives1.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a><strong>.<\/strong><\/span><\/li>\n<li><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cDollarization, Bailouts, and the Stability of the Banking System\u201d \" href=\"https:\/\/qje.oxfordjournals.org\/content\/117\/2\/467.short\" target=\"_blank\" rel=\"noopener noreferrer\">Dollarization, Bailouts, and the Stability of the Banking System<\/a><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with D. Gale), <em>Quarterly Journal of Economics<\/em>, 117, 2, 2002, 467-502.<strong><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/45-Dollorization.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">\u00a0<\/a><\/strong><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/45-Dollorization1.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a><strong>.<\/strong><\/li>\n<li><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cExternal Discipline and Financial Stability\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0014292101002161\" target=\"_blank\" rel=\"noopener noreferrer\">External Discipline and Financial Stability<\/a><a title=\"\u2022 \u201cSmall Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand\u201d\" href=\"https:\/\/www.jstor.org\/stable\/2297448\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>European Economic Review<\/em>, 46, 4-5, 2002, 821-828.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Private Information, Strategic Behavior, and Efficiency in Cournot markets<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Rand Journal of Economics<\/em>, 33, 3, 2002, 361-376. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/47-Private-Information.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cStrategic Incentives in Dynamic Duopoly\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022053103003387\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Strategic Incentives in Dynamic Duopoly&#8221;<\/a> (with B. Jun), <em>Journal of Economic Theory<\/em>, 116, 2, 2004, 249-281.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cRegulating Insider Trading When Investment Matters\u201d\" href=\"https:\/\/academic.oup.com\/rof\/article\/8\/2\/199\/1572007?searchresult=1\" target=\"_blank\" rel=\"noopener noreferrer\">Regulating Insider Trading When Investment Matters<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a> (with L.A. Medrano), <em>Review of Finance<\/em>, 8, 2004, 199-277. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/49-Regulating-Insider-Trading-When-Investment-matter.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cCoordination Failures and the Lender of Last Resort: Was Bagehot Right After All?\u201d \" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/40004888\" target=\"_blank\" rel=\"noopener noreferrer\">Coordination Failures and the Lender of Last Resort: Was Bagehot Right After All?<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with J-Ch. Rochet), Journal <em>of the European Economic Association<\/em>, 2, 6, December 2004,<br \/>\n1116-1147. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/50-Coordination-Failures.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/bagehot-central-banking-and-financial-crisis\" target=\"_blank\" rel=\"noopener\">VoxEU column<\/a><\/span>.<\/li>\n<li style=\"text-align: left;\"><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cGames with Strategic Complementarities: New Applications to Industrial Organization\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0167718705000743\" target=\"_blank\" rel=\"noopener noreferrer\">Games with Strategic Complementarities: New Applications to Industrial Organization<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>International Journal of Industrial Organization<\/em>\u00b8 23, 2005, 625-637.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cComplementarities and Games: New Developments\u201d\" href=\"https:\/\/www.aeaweb.org\/articles.php?doi=10.1257\/0022051054661558\" target=\"_blank\" rel=\"noopener noreferrer\">Complementarities and Games: New Developments<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Journal of Economic Literature<\/em>, 43, 2, 2005, 437-479.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cBanking and Regulation in Emerging Markets: The Role of External Discipline\u201d\" href=\"https:\/\/academic.oup.com\/wbro\/article-lookup\/doi\/10.1093\/wbro\/lkl002\" target=\"_blank\" rel=\"noopener noreferrer\">Banking and Regulation in Emerging Markets: The Role of External Discipline<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>The World Bank Research Observer<\/em>, 21, 2, Fall 2006, 179-206.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cMonotone Equilibria in Bayesian Games of Strategic Complementarities\u201d\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022053106000470\" target=\"_blank\" rel=\"noopener noreferrer\">Monotone Equilibria in Bayesian Games of Strategic Complementarities<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with T. Van Zandt), <em>Journal of Economic Theory<\/em>, 134, 2007, 339-360.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cGames of Strategic Complementarities: an Application to Bayesian Games\u201d\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10108-007-9027-1\" target=\"_blank\" rel=\"noopener noreferrer\">Games of Strategic Complementarities: an Application to Bayesian Games<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Spanish Economic Review<\/em>, 9, 2007, 237-247. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/55-Games-of-Strategic-Complementarieties-an-Application-to-Bayesian-Games.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u2022 \u201cInnovation and Competitive Pressure\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/25483419\" target=\"_blank\" rel=\"noopener noreferrer\">Innovation and Competitive Pressure<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>The Journal of Industrial Economics<\/em>, 2008, 56, 3, 419-469. Recipient of the JIE &#8220;Best Article&#8221; Prize 2008. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/56-Innovation-and-competitive.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cComplementarities and Information: An Introduction\u201c\" href=\"https:\/\/academic.oup.com\/jeea\/article\/7\/1\/1\/2295785\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;Complementarities and Information: An Introduction&#8221;<\/a>, (with D. Gale), <em>Journal of the European Economic Association<\/em>, 2009, 7, 1, 1-10.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/link.springer.com\/article\/10.1007\/s00199-008-0354-8\" target=\"_blank\" rel=\"noopener noreferrer\">Strategic Complementarity in Multi-stage Games<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Economic Theory<\/em>, 2009, 40, 151-171. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/58-Strategic-Complementarity-in-Mulit-stage-Games.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0166046208001038\" target=\"_blank\" rel=\"noopener noreferrer\">Why and where do headquarters move?<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with V. Strauss-Kahn), <em>Regional Science and Urban Economics<\/em>, 2009, 39, 2, 168-186.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/j.1542-4774.2010.tb00517.x\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">Asset Auctions, Information, and Liquidity<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Journal of the European Economic Association<\/em>, 2010, 8, 2-3, 467-477. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/60-Asset-auctions-Information-and-Liquidity.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304406811000164\" target=\"_blank\" rel=\"noopener noreferrer\">Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with C. Manzano), <em>Journal of Mathematical Economics<\/em>, 2011, 47, 3, 346\u2013369. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/61-Public-and-Private-Learning-from-prices-Strategic-substitutability-and-complementarity.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.3982\/ECTA8126\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">Strategic Supply Function Competition with Private Information<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Econometrica<\/em>, 2011, 79, 6, 1919-1966. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/63-Strategic-Supply-function.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.\u00a0<a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/12\/ecta8126supp.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Web appendix<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a href=\"https:\/\/academic.oup.com\/oxrep\/article-lookup\/doi\/10.1093\/oxrep\/grr021\" target=\"_blank\" rel=\"noopener noreferrer\">Competition Policy in Banking<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>, <em>Oxford Review of Economic Policy <\/em>2011,\u00a0 27, 479-497. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/64-Competition-Policy-in-banking.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a><a title=\"\u201cDynamic Trading and Asset Prices: Keynes vs. Hayek\u201d\" href=\"https:\/\/restud.oxfordjournals.org\/content\/79\/2\/539.abstract\" target=\"_blank\" rel=\"noopener noreferrer\">Dynamic Trading and Asset Prices: Keynes vs. Hayek<\/a><a title=\"\u2022 \u201cPrivate Information, Strategic Behavior, and Efficiency in Cournot markets\u201d\" href=\"https:\/\/www.jstor.org\/stable\/10.2307\/3087462\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<\/a>\u00a0(with G. Cespa), <em>Review of Economic Studies<\/em>, 2012, 79, 2, 539-580.<span style=\"line-height: 19px;\"><span style=\"line-height: 19px;\"><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/expectations-and-asset-prices-keynes-meets-hayek\" target=\"_blank\" rel=\"noopener\"> VoxEU column<\/a><\/span>.<\/span><\/span><\/li>\n<li><span style=\"line-height: 19px;\"><span style=\"line-height: 19px;\">&#8220;<\/span><\/span><span style=\"line-height: 19px;\"><a href=\"https:\/\/dx.doi.org\/10.1016\/j.jet.2013.10.007\" target=\"_blank\" rel=\"noopener noreferrer\">Introduction to Financial Economics<\/a>&#8221; (with F. Allen and D. Vayanos), <\/span><em><span style=\"line-height: 19px;\">Journal of Economic Theory,<\/span><\/em><span style=\"line-height: 19px;\"> 2014, 149, 1, 1-14. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/66-Introduction-to-financial-Economics.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/span><\/li>\n<li><span style=\"line-height: 19px;\">&#8220;<a href=\"https:\/\/dx.doi.org\/10.1016\/j.jet.2013.05.002\" target=\"_blank\" rel=\"noopener noreferrer\">Competitive Rational Expectations Equilibria without Apology<\/a>&#8221;\u00a0(with A. Kovalenkov), <\/span><em><span style=\"line-height: 19px;\">Journal of Economic Theory,<\/span><\/em><span style=\"line-height: 19px;\"> 2014, 149, 1, 211-235. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/67-Competitive-Rational-Expectations-equilibria.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/span><\/li>\n<li>&#8220;<a title=\"On the Possibility of Informationally Efficient Markets: A Large-Market Rational Expectations Equilibrium Model\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/jeea.12107\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">On the Possibility of Informationally Efficient Markets<\/a>&#8220;,\u00a0<em>Journal of the European Economic Association<\/em>, 2014, 12, 5, 1200-1239. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/68-On-the-possibility-on-informationally.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>.<\/li>\n<li>&#8220;<a href=\"https:\/\/academic.oup.com\/rfs\/article-lookup\/doi\/10.1093\/rfs\/hhu064\">Strategic Complementarity, Fragility, and Regulation<\/a>&#8220;, <em>The Review of Financial Studies<\/em>, 2014, 27, 12, 3547-3592. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2011\/06\/69-Strategic-Complementary-Fragility-and-Regulation.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">WP<\/a>. <a href=\"https:\/\/cepr.org\/voxeu\/columns\/will-basel-iii-work\" target=\"_blank\" rel=\"noopener\">VoxEU column.<\/a><\/li>\n<li><a title=\"On the Possibility of Informationally Efficient Markets\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/jeea.12107\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">\u201c<\/a><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022053115000782\" target=\"_blank\" rel=\"noopener noreferrer\">Information, <\/a><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022053115000782\" target=\"_blank\" rel=\"noopener noreferrer\">Coordination, and Market Frictions: An Introduction<\/a><a title=\"On the Possibility of Informationally Efficient Markets\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/jeea.12107\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">\u201d<\/a>\u00a0(with A. Pavan), 2015, 158, No. B, 407 &#8211; 426. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2017\/03\/Pavan-Vives-Intro-SYM-ICM.pdf\">WP<\/a>.<\/li>\n<li><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/jofi.12279\/abstract\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;The Beauty Contest and Short-Term Trading&#8221; <\/a>&amp; <a style=\"font-family: inherit; font-size: inherit;\" href=\"https:\/\/onlinelibrary.wiley.com\/action\/downloadSupplement?doi=10.1111%2Fjofi.12279&amp;file=jofi12279-sup-0001-SI.pdf\">Internet appendix<\/a> <span style=\"font-family: inherit; font-size: inherit;\">(with G. Cespa), <\/span><em style=\"font-family: inherit; font-size: inherit;\">Journal of Finance<\/em><span style=\"font-family: inherit; font-size: inherit;\">, 2015, 70, 5, 2099-2154. <\/span><a style=\"font-family: inherit; font-size: inherit;\" href=\"https:\/\/blog.iese.edu\/xvives\/files\/2017\/03\/st-model-January-30-15.pdf\">WP<\/a><span style=\"font-family: inherit; font-size: inherit;\">.<\/span><\/li>\n<li><a href=\"https:\/\/academic.oup.com\/restud\/article\/84\/2\/935\/2965769\/Endogenous-Public-Information-and-Welfare-in?searchresult=1\">&#8220;Endogenous Public Information and Welfare in Market Games&#8221;<\/a>, <em>Review of Economic Studies<\/em>, 2017, 84, 2, 935-963. <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2016\/06\/EPIWinMG-May-2016-f.pdf\">WP<\/a>. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/rationale-tobin-tax\">VoxEU column<\/a>.<\/span><\/li>\n<li><a href=\"https:\/\/european-economy.eu\/2017-2\/the-impact-of-fintech-on-banking\/\">&#8220;The Impact of Fintech on Banking\u201d<\/a>, <u>European Economy<\/u>. Banks, Regulation and the Real Sector, 2017, 2, 97-106.<\/li>\n<li><a href=\"https:\/\/www.journals.uchicago.edu\/doi\/full\/10.1086\/701811\">&#8220;Overlapping Ownership, R&amp;D Spillovers and Antitrust Policy&#8221;<\/a> &amp; <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2018\/12\/Online_AppendixvDecember2018.pdf\">Online Appendix<\/a>\u00a0&amp; <a href=\"https:\/\/angelluislopez.net\/ficheros\/CrossApp.jar\">Web simulation<\/a> (with A. L\u00f3pez), <em>Journal of Political Economy,<\/em>\u00a02019, 127, 5, 2394-2437.<\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0167718719300098\">&#8220;Competition and Stability in Modern Banking: A Post-Crisis Perspective&#8221;<\/a>, <em>International Journal of Industrial Organization,\u00a0<\/em>2019, 64, 55-69.<\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/02\/Azar-Xives_Common-ownership-and-the-secular-stagnation-hypothesis.pdf\">&#8220;Common Ownership and the Secular Stagnation Hypothesis&#8221;<\/a>\u00a0(with J. Azar), <em>AEA Papers and Proceedings, <\/em>2019, 109, 322-326.<\/li>\n<li><a href=\"https:\/\/link.springer.com\/article\/10.1007\/s11151-019-09687-5?wt_mc=Internal.Event.1.SEM.ArticleAuthorAssignedToIssue&amp;utm_source=ArticleAuthorAssignedToIssue&amp;utm_medium=email&amp;utm_content=AA_en_06082018&amp;ArticleAuthorAssignedToIssue_20190715\">&#8220;Competition Policy in Banking in the European Union&#8221;<\/a> (with J. Maudos), <em>Review of Industrial Organization, 2019, <\/em>55, 1, 27-46.<\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2019\/11\/CO-MP-and-Inn-Jul2019.pdf\">&#8220;Common Ownership, Market Power, and Innovation&#8221;<\/a>, <em>International Journal of Industrial Organization,<\/em> 2020, 70, 102528.<\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2020\/01\/Digital-Disruption-in-Banking_Nov.2019.pdf\">&#8220;Digital Disruption in Banking&#8221;<\/a>, <em>The Annual Review of Financial Economics<\/em>, 2019, 11, 243-272.<\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/02\/Banal-Estanol-Seldeslachts-Vives_Diversification-Common-Ownership-and-Strategic-Incentives.pdf\">&#8220;Diversification, Common Ownership, and Strategic Incentives&#8221;<\/a> (with A. Banal-Esta\u00f1ol and J. Seldeslachts), <em>AEA Papers and Proceedings<\/em>, 2020, 110, 561-564.<\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0899825620300695?via%3Dihub\">&#8220;Information Frictions and Market Power: A Laboratory Study&#8221;<\/a> &amp; <a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2020\/05\/BBV_Online-Appendix_Apr2020.pdf\">Online Appendix<\/a> (with A. Bayona and J. Brandts), <em>Games and Economic Behavior, <\/em>2020, 122, 354-369.<\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/03\/Costly-Interpretation-of-Asset-Prices_Publish-online.pdf\">&#8220;Costly Interpretation of Asset Prices&#8221; <\/a>(with J. Mondria and L. Yang), <em>Management Science, <\/em>2021, 68,1, 52-74. <a href=\"https:\/\/www.informs.org\/Blogs\/ManSci-Blogs\/Management-Science-Review\/Does-studying-price-data-make-the-financial-market-function-better-Not-necessarily\">Informs article<\/a>. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/learning-prices-does-not-come-free\">VoxEU column<\/a>.<\/span><\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/06\/Azar-Vives-2021-cont.pdf\">\u201cGeneral Equilibrium Oligopoly and Ownership Structure\u201d\u00a0<\/a>(with J. Azar),\u00a0<em>Econometrica<\/em>, 2021, 89, 3, 999\u20131048. (Top downloaded article in 2021). <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/revisiting-anticompetitive-effects-common-ownership\">VoxEU column<\/a>.<\/span><\/li>\n<li><a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/05\/Azar-Vives-Comment-ECTA.pdf\">Comments on \u201cGeneral Equilibrium Oligopoly and Ownership Structure\u201d<\/a>\u00a0(with J. Azar),\u00a0<em>Econometrica<\/em>, 2021, 89, 3, 1061-1063.<\/li>\n<li><a href=\"https:\/\/econtheory.org\/ojs\/index.php\/te\/article\/viewFile\/3675\/31460\/910\">\u201cMarket Power and Welfare in Asymmetric Divisible Good Auctions\u201d<\/a>\u00a0(with C. Manzano),\u00a0<em>Theoretical Economics<\/em>, 2021, 16, 1095-1137.<\/li>\n<li><a href=\"https:\/\/academic.oup.com\/rfs\/advance-article-abstract\/doi\/10.1093\/rfs\/hhab101\/6378254?redirectedFrom=fulltext\">\u201cExchange Competition, Entry, and Welfare\u201d<\/a>\u00a0&amp;\u00a0<a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/04\/IAppendix-apr-21.pdf\">Web appendix<\/a>\u00a0(with G. Cespa),\u00a0<em>The Review of Financial Studies, 2022,\u00a0<\/em>35, 5, 2570-2624.\u00a0<a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2021\/06\/ExchangeComp-June-2021.pdf\">WP<\/a> <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/regulating-oligopolistic-exchanges\">VoxEU column<\/a>.<\/span><\/li>\n<li><a href=\"https:\/\/pubs.aeaweb.org\/doi\/pdfplus\/10.1257\/pandp.20231006\">\u201cMonetary Policy, Market Power and SMEs\u201d<\/a>\u00a0(with A. Ferrando, P. McAdam and F. Petroulakis),\u00a0<em>AEA Papers and Proceedings,\u00a0<\/em>2023, 113, 105-109.<\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304406824000673\">\u201cStrategic complementarity in games\u201d<\/a>\u00a0(with O. Vravosinos),\u00a0<em>Journal of Mathematical Economics<\/em>, 2024, 113, 103005.<\/li>\n<li>\u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304405X24001806\">Information Technology and Lender Competition<\/a>\u201c (with Z. Ye), <em>Journal of Financial Economics<\/em>, 2025, 163, 103957.<\/li>\n<li>\u201c<a href=\"https:\/\/blog.iese.edu\/xvives\/files\/2024\/07\/Free_entry.pdf\">Free Entry in a Cournot Market with Overlapping Ownership<\/a>\u201d (with O. Vravosinos),\u00a0<em>American Economic Journal-Microeconomics<\/em>, 2025, 17, 2, 292-320.<\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304405X25000480\" target=\"_blank\" rel=\"noopener\">\u201cFintech Entry, Lending Market Competition and Welfare\u201d<\/a>\u00a0(with Z. Ye),\u00a0<em>Journal of Financial Economics<\/em>, 2025, 168, 104040. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/cepr.org\/voxeu\/columns\/impact-fintech-lending\">VoxEU column<\/a>.<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td class=\"pagTitulo\" valign=\"top\" width=\"698\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Duopoly Information Equilibrium: Cournot and Bertrand&#8221;, Journal of Economic Theory, 34, 1, October 1984, 71-94. Reprinted in Cournot Oligopoly: Characterization and Applications, A. Daughety (ed.), Cambridge University Press, 1988. Reprinted in Microeconomic Theories of Imperfect Competition: Old Problems and New Perspectives, J. Gabszewicz and J.-F. Thisse (ed.), Edwar Elgar Publisher Ltd, UK, 1999. &#8220;Price and [&hellip;]<\/p>\n","protected":false},"author":714,"featured_media":0,"parent":2,"menu_order":3,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-28","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/pages\/28","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/users\/714"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/comments?post=28"}],"version-history":[{"count":112,"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/pages\/28\/revisions"}],"predecessor-version":[{"id":3124,"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/pages\/28\/revisions\/3124"}],"up":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/pages\/2"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/xvives\/wp-json\/wp\/v2\/media?parent=28"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}