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Michael Baye
Michael Roy Baye (born April 6, 1958) is the "Bert Elwert" Professor of Business Economics in the Kelley School of Business at Indiana University. Education and profession Baye received his B.S. from Texas A&M University in 1980 and earned a Ph.D. in economics from Purdue University in 1983. Baye has held appointments at Cambridge, Oxford, Erasmus, Tilburg, and the New Economic School in Moscow. He has won many awards for outstanding teaching, and regularly teaches courses in managerial economics and industrial organization at the undergraduate, M.B.A., and Ph.D. level. As of July 2007, Baye has accepted a position to lead the Federal Trade Commission Bureau of Economics. As director, he advises the FTC on economic policy matters. He is a special consultant for NERA Economic Consulting. Work in economics Baye's research primarily focuses on pricing strategies and their impact on consumer welfare and firm profits. His early papers dealt with the construction of price indices wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kelley School Of Business
The Kelley School of Business (KSB) is an undergraduate and graduate business school for Indiana University Bloomington and Indiana University Indianapolis. As of 2022, approximately 13,538 full-time undergraduate and graduate students are enrolled on its Bloomington campus, as well as 1,596 students at the Indianapolis campus. In addition, more than 800 students study for graduate degrees through the school's online MBA and MS programs as part of "Kelley Direct". As of 2025, Kelley School of Business has more than 133,000 alumni worldwide across 105 countries and five continents. History In March of 1902, the university trustees decided to establish a commercial course within the Department of Economics and Social Science starting the next school year, replacing the last two years of the regular university course. Upon completion of the new curriculum, a special certificate in addition to the ordinary diploma would be granted. The A separate school was established as "S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrial Organization
In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets. Industrial organization adds real-world complications to the perfectly competitive model, complications such as transaction costs, limited information, and barriers to entry of new firms that may be associated with imperfect competition. It analyzes determinants of firm and market organization and behavior on a continuum between competition and monopoly, including from government actions. There are different approaches to the subject. One approach is descriptive in providing an overview of industrial organization, such as measures of competition and the size- concentration of firms in an industry. A second approach uses microeconomic models to explain internal firm organization and market strategy, which includes internal research and development along with issues of internal reorganization and rene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas A&M University Alumni
Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and has Mexico-United States border, an international border with the Mexican states of Chihuahua (state), Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest. Texas has Texas Gulf Coast, a coastline on the Gulf of Mexico to the southeast. Covering and with over 31 million residents as of 2024, it is the second-largest state List of U.S. states and territories by area, by area and List of U.S. states and territories by population, population. Texas is nicknamed the ''Lone Star State'' for its former status as the independent Republic of Texas. Spain was the first European country to Spanish Texas, claim and control Texas. Following French colonization of Texas, a short-lived colony controlled by France, Mexico ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana University Bloomington Faculty
Indiana ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Michigan to the northwest, Michigan to the north and northeast, Ohio to the east, the Ohio River and Kentucky to the south and southeast, and the Wabash River and Illinois to the west. Nicknamed "the Hoosier State", Indiana is the List of U.S. states and territories by area, 38th-largest by area and the List of U.S. states and territories by population, 17th-most populous of the List of states and territories of the United States, 50 states. Its capital and largest city is Indianapolis. Indiana was admitted to the Union as the 19th state on December 11, 1816. Indigenous peoples of the Americas, Indigenous resistance to American settlement was broken with defeat of the Tecumseh's confederacy in 1813. The new settlers were primarily Americans of British people, British ancestry from the East Coast of the United States, eastern seaboard and the Upland South ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Living People
Purpose: Because living persons may suffer personal harm from inappropriate information, we should watch their articles carefully. By adding an article to this category, it marks them with a notice about sources whenever someone tries to edit them, to remind them of WP:BLP (biographies of living persons) policy that these articles must maintain a neutral point of view, maintain factual accuracy, and be properly sourced. Recent changes to these articles are listed on Special:RecentChangesLinked/Living people. Organization: This category should not be sub-categorized. Entries are generally sorted by family name In many societies, a surname, family name, or last name is the mostly hereditary portion of one's personal name that indicates one's family. It is typically combined with a given name to form the full name of a person, although several give .... Maintenance: Individuals of advanced age (over 90), for whom there has been no new documentation in the last ten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1958 Births
Events January * January 1 – The European Economic Community (EEC) comes into being. * January 3 – The West Indies Federation is formed. * January 4 ** Edmund Hillary's Commonwealth Trans-Antarctic Expedition completes the third overland journey to the South Pole, the first to use powered vehicles. ** Sputnik 1 (launched on October 4, 1957) falls towards Earth from its orbit and burns up. * January 13 – Battle of Edchera: The Moroccan Army of Liberation ambushes a Spanish patrol. * January 27 – A Soviet-American executive agreement on cultural, educational and scientific exchanges, also known as the "Lacy-Zarubin Agreement, Lacy–Zarubin Agreement", is signed in Washington, D.C. February * February 1 – Egypt and Syria unite to form the United Arab Republic. * February 2 – The ''Falcons'' aerobatic team of the Pakistan Air Force led by Wg Cdr Zafar Masud (air commodore), Mitty Masud set a World record loop, world record performing a 16 aircraft diamon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Dispersion
In economics, price dispersion is variation in prices across sellers of the same item, holding fixed the item's characteristics. Price dispersion can be viewed as a measure of trading frictions (or, tautologically, as a violation of the law of one price). It is often attributed to consumer search costs or unmeasured attributes (such as the reputation) of the retailing outlets involved. There is a difference between price dispersion and price discrimination. The latter concept involves a single provider charging different prices to different customers for an identical good. Price dispersion, on the other hand, is best thought of as the outcome of many firms potentially charging different prices, where customers of one firm find it difficult to patronize (or are perhaps unaware of) other firms due to the existence of search costs. Price dispersion measures include the range of prices, the percentage difference of highest and lowest price, the standard deviation of the price distribu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oligopoly
An oligopoly () is a market in which pricing control lies in the hands of a few sellers. As a result of their significant market power, firms in oligopolistic markets can influence prices through manipulating the supply function. Firms in an oligopoly are mutually interdependent, as any action by one firm is expected to affect other firms in the market and evoke a reaction or consequential action. As a result, firms in oligopolistic markets often resort to collusion as means of maximising profits. Nonetheless, in the presence of fierce competition among market participants, oligopolies may develop without collusion. This is a situation similar to perfect competition, where oligopolists have their own market structure. In this situation, each company in the oligopoly has a large share in the industry and plays a pivotal, unique role. Many jurisdictions deem collusion to be illegal as it violates competition laws and is regarded as anti-competition behaviour. The EU com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a compan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auctions
An auction is usually a process of Trade, buying and selling Good (economics), goods or Service (economics), services by offering them up for Bidding, bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different #Types, types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse #Contexts, contexts. These contexts include antiques, Art auction, paintings, rare collectibles, expensive wine auction, wines, commodity, commodities, l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is the legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. Most countries require mergers and acquisitions to comply with antitrust or competition law. In the United States, for example, the Clayto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Theory
Game theory is the study of mathematical models of strategic interactions. It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly balanced by the losses and gains of the other participant. In the 1950s, it was extended to the study of non zero-sum games, and was eventually applied to a wide range of Human behavior, behavioral relations. It is now an umbrella term for the science of rational Decision-making, decision making in humans, animals, and computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum games and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
