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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10013084738
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The Information Pharms Race and Competitive Dynamics of Precision Medicine : Insights from Game Theory
Berndt, Ernst R. - 2017
market power. Multiple precision medicine market situations now resemble game theory constructs such as the prisoners …
Persistent link: https://www.econbiz.de/10012943199
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Last-In First-Out Oligopoly Dynamics
Abbring, Jaap H. - 2010
This paper extends the static analysis of oligopoly structure into an infinite-horizon setting with sunk costs and …
Persistent link: https://www.econbiz.de/10012757954
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An Aggregative Games Approach to Merger Analysis in Multiproduct-Firm Oligopoly
Nocke, Volker - 2018
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/10012919859
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Business Cycles and Oligopoly Supergames : Some Empirical Evidence on Prices and Margins
Domowitz, Ian; Petersen, Bruce C.; Hubbard, R. Glenn - 2021
There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior …
Persistent link: https://www.econbiz.de/10013216122
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Production Targets
Caruana, Guillermo; Einav, Liran - 2021
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/10013243651
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Competition, Markups, and the Gains from International Trade
Edmond, Chris - 2014
We study the gains from trade in a model with endogenously variable markups. We show that the pro-competitive gains from trade are large if the economy is characterized by (i) extensive misallocation, i.e., large inefficiencies associated with markups, and (ii) a weak pattern of cross-country...
Persistent link: https://www.econbiz.de/10013066161
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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/10013156542
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Do Oligopolists Pollute Less? Evidence from a Restructured Electricity Market
Mansur, Erin T. - 2007
Electricity restructuring has created the opportunity for producers to exercise market power. Oligopolists increase price by distorting output decisions, causing cross-firm production inefficiencies. This study estimates the environmental implications of production inefficiencies attributed to...
Persistent link: https://www.econbiz.de/10012775794
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Distance, Demand, and Oligopoly Pricing
Feenstra, Robert C. - 2007
We demonstrate how to estimate a model of product demand and oligopoly pricing when products are multi … informed by economic theory, we simultaneously estimate a demand system and price-cost margins for products differentiated in …
Persistent link: https://www.econbiz.de/10012777146