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Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...
Persistent link: https://www.econbiz.de/10010860227
The paper presents the analysis of recent developments of Schumpeterian theory of entrepreneurship and innovation in light of evolutionary economics.
Persistent link: https://www.econbiz.de/10011212782
governance as well as economic and political competition, whereas the role of collaboration mechanisms is growing. This process …
Persistent link: https://www.econbiz.de/10011245928
informational problems. We show that, as a consequence of this trade-off, more intense competition in unregulated segments of the … can lead to a softer merger policy when competition is weaker. …
Persistent link: https://www.econbiz.de/10011252548
This discussion paper led to an article in <I>Games and Economic Behavior</I> (2012), pp. 120-138.<P> We consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in knowledge: some consumers know both the prices and quality of the products offered,...</p></i>
Persistent link: https://www.econbiz.de/10011255624
We study the effects of competition in a context in which people's actions can not be contractually fixed. We find that … in such an environment the very presence of competition does neither increase efficiency nor does it yield any payoff … gains for the short side of the market. We also find that competition has a strong negative impact on social well-being, the …
Persistent link: https://www.econbiz.de/10011255651
The debate on competition and innovation has produced a wide range of theoretical and empirical findings. Recently …, corporate governance quality has emerged as an additional factor that may complement or substitute for competition’s effect on … innovation. We aim to contribute to the debate by investigating whether product-market competition and corporate governance …
Persistent link: https://www.econbiz.de/10011258940
approach ignores both the competition between oil companies, and the large geographical differences. The paper concludes by …
Persistent link: https://www.econbiz.de/10011259029
. Empirical evidence suggests that emerging markets, as well as European countries such as Italy, Sweden or Germany have ….Corporate financing patterns in emerging markets in the 1990s were broadly similar to those observed in the 1980s. Unlike their … held beliefs, product market competition in emerging countries is no less intense than in advanced economies. …
Persistent link: https://www.econbiz.de/10011259047
government tasks in a globalized economy remain: remedying information asymmetries between buyers and sellers, regulating markets …
Persistent link: https://www.econbiz.de/10011259135