In this paper we analyze the choice of how a firm organizes itself with regard to the degree of centralization of production decisions, as a way of deterring entry by the manager of the firm. We show that if the fixed cost of setting up a new firm is low enough, the owner of the firm chooses a...

The Narodowy Bank Polski organized during November 14-15, 2013 an international workshop to discuss current issues in the field of real estate analysis from the central bank’s point of view. The development of residential real estate prices as well as commercial real estate prices and real...

This paper uses panel data from the German car industry for the estimation of parameters of a demand equation applying different statistical methodologies and paying special attention to advertising variables. Two important conclusions can be drawn. First, advertising plays an important role in...