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There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior …
Persistent link: https://www.econbiz.de/10012477012
This paper extends the static analysis of oligopoly structure into an infinite-horizon setting with sunk costs and …
Persistent link: https://www.econbiz.de/10012463973
than its static analog. We then test the theory using monthly production targets of the Big Three U.S. auto manufacturers …
Persistent link: https://www.econbiz.de/10012466713
Using an aggregative games approach, we analyze horizontal mergers in a model of multiproduct-firm price competition with nested CES or nested logit demands. We show that the Herfindahl index provides an adequate measure of the welfare distortions introduced by market power, and that the induced...
Persistent link: https://www.econbiz.de/10012453139
market power. Multiple precision medicine market situations now resemble game theory constructs such as the prisoners …
Persistent link: https://www.econbiz.de/10012453693
Persistent link: https://www.econbiz.de/10011638706
This paper analyzes compensation schemes which pay according to an individual's ordinal rank in an organization rather than his output level. When workers are risk neutral, it is shown that wages based upon rank induce the same efficient allocation of resources as an incentive reward scheme...
Persistent link: https://www.econbiz.de/10012478746
We elaborate a model of the incentives of scientists to perform activities of control and criticism when these activities, just like the production of novel findings, are costly, and we study the strategic interaction between these incentives. We then use the model to assess policies meant to...
Persistent link: https://www.econbiz.de/10012457523
managers. Employment relations can be either tough (where workers are monitored intensively and obtain few rents, and managers … workplace favor exchange). Both workers and managers also exert effort in providing community benefits. The threat of losing … access to community benefits can motivate managers to keep employment soft; conversely, the threat of losing future …
Persistent link: https://www.econbiz.de/10015056099
Persistent link: https://www.econbiz.de/10002111627