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Delegation and Limited Liability in a Modern Capitalistic Economy
Shinkai, Tetsuya; Ohkawa, Takao; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012
We examine an effect of limited liability on strategic delegation in a Cournot duopoly with demand uncertainty. We establish that owners of each firm always delegate their tasks, decisions, and responsibility to a manager under limited liability, while they do not always do so under unlimited...
Persistent link: https://www.econbiz.de/10010540937
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Sales-Maximization vs. Profit-Maximization: Managerial Behavior at Japanese Regional Banks 1980-2009
Harimaya, Kozo; Ohkawa, Takao; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012
In this paper, we analyze the managerial behavior of firms by estimating a nested objective function consistent with the framework of Fershtman and Judd (1987). Using data for Japanese regional banks for FY 1980-FY 2009, we focus on oligopolistic behavior in the domestic loan market and examine...
Persistent link: https://www.econbiz.de/10010902086
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Growth effects of non proprietary innovation
Saint-Paul, Gilles - 2002
by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it …
Persistent link: https://www.econbiz.de/10011409970
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Local search markets and external competition
Legros, Patrick; Stahl, Konrad - 2019
crowds out local variety. Under local monopoly, local buyer surplus co-moves with external buyer surplus. Under local free … surplus is better provided by local monopoly. …
Persistent link: https://www.econbiz.de/10012026420
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Perfect competition, market power, and contestability
Budzinski, Oliver; Stöhr, Annika - 2024
distinguishable types. This contribution explains absolute market power (single-firm monopoly and dominance), collective market power … market entries to discipline the behavior of powerful incumbents on monopoly or dominance markets. Recently, contestability …
Persistent link: https://www.econbiz.de/10014536299
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Taxation and market power
Konrad, Kai A.; Morath, Florian; Müller, Wieland - 2010
We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find … consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share …
Persistent link: https://www.econbiz.de/10010307676
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Taxation and market power
Konrad, Kai A.; Morath, Florian; Müller, Wieland - 2009
We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find … consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share …
Persistent link: https://www.econbiz.de/10010332970
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Local search markets and external competition
Legros, Patrick; Stahl, Konrad O. - 2019
crowds out local variety. Under local monopoly, local buyer surplus co-moves with external buyer surplus. Under local free … surplus is better provided by local monopoly. …
Persistent link: https://www.econbiz.de/10012052789
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Taxation and Market Power
Morath, Florian; Konrad, Kai A.; Müller, Wieland - 2010
We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find … consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share …
Persistent link: https://www.econbiz.de/10010271438
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Investments in electricity generating capacity under different market structures and with endogenously fixed demand
Boom, Anette - 2003
capacities can be larger or smaller with a duopoly than with a monopoly. If the two firms co-ordinate on a pareto dominant …
Persistent link: https://www.econbiz.de/10010278102