Narrow search
Showing 1 - 10 of 110
Cover Image
Entry, Exit, and the Determinants of Market Structure
Dunne, Timothy - 2009
Market structure is determined by the entry and exit decisions of individual producers. These decisions are driven by expectations of future profits which, in turn, depend on the nature of competition within the market. In this paper we estimate a dynamic, structural model of entry and exit in...
Persistent link: https://www.econbiz.de/10012463337
Cover Image
Who Should Pay for Credit Ratings and How?
Kashyap, Anil K. - 2013
We analyze a model where investors use a credit rating to decide whether to finance a firm. The rating quality depends on unobservable effort exerted by a credit rating agency (CRA). We study optimal compensation schemes for the CRA when a planner, the firm, or investors order the rating. Rating...
Persistent link: https://www.econbiz.de/10012459738
Cover Image
Individual Preferences, Organization, and Competition in a Model of R&D Incentive Provision
Lacetera, Nicola - 2011
Understanding the organization of R&D activities requires the simultaneous consideration of scientific workers' talent and tastes, companies' organizational choices, and the characteristics of the relevant industry. We develop a model of the provision of incentives to corporate scientists, in an...
Persistent link: https://www.econbiz.de/10012461628
Cover Image
Does Product Market Competition Reduce Agency Costs?
Jagannathan, Ravi - 2000
competitive industries, the negative relation between past returns and current leverage will be attenuated. Theory suggests that …
Persistent link: https://www.econbiz.de/10012471296
Cover Image
Seeking Alpha : Excess Risk Taking and Competition for Managerial Talent
Acharya, Viral V. - 2013
We present a model in which managers are risk-averse and firms compete for scarce managerial talent ("alpha"). When … managers are not mobile across firms, firms provide efficient compensation, which allows for learning about managerial talent … and for insurance of low-quality managers. When instead managers can move across firms, firms cannot offer co …
Persistent link: https://www.econbiz.de/10012459770
Cover Image
Allocating ideas: horizontal competition in tournaments
Ganuza, Juan José (contributor); Hauk, Esther (contributor) - 2002 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001637701
Cover Image
Auctions with Endogenous Valuations, The Snowball Effect Revisited
Krishna, Kala - 1990
In most of the literature on auctions the valuations of agents are exogenously specified. This assumption may be inappropriate in a number of cases where valuations are better derived endogenously. Endogenous valuations are appropriate when there are many units being auctioned and their value is...
Persistent link: https://www.econbiz.de/10012475544
Cover Image
A Comparison of Tournaments and Contracts
Green, Jerry R. - 1982
absence of a common shock, using optimal independent contracts dominates using the optimal tournament. Conversely, if the … distribution of the common shock is sufficiently diffuse, using the optimal tournament dominates using optimal independent … but uses the optimal tournament, does as well as one who can observe the shock and uses independent contracts …
Persistent link: https://www.econbiz.de/10012478271
Cover Image
Gender Differences in Market Competitiveness in a Real Workplace : Evidence from Performance-based Pay Tournaments among Teachers
Lavy, Victor - 2008
mix. The competition is among math, English and Language teachers who participated in a rank order tournament that …
Persistent link: https://www.econbiz.de/10012464310
Cover Image
Incentive Fees and Competition in Pension Funds : Evidence from a Regulatory Experiment
Hamdani, Assaf - 2016
) is that competition among fund managers should provide them with the adequate incentives to make investment decisions …
Persistent link: https://www.econbiz.de/10012456046