Showing 1 - 10 of 45
bundling. In this paper, we analyze how bundling afects journal pricing in the market of scientific, technical and medical (STM …) electronic journals and offer a novel insight on the bundling of a large number of information goods. We find that (i) when … bundling is prohibited, surprisingly, industry concentration does not affect prices (ii) when bundling is allowed, each …
Persistent link: https://www.econbiz.de/10010851403
The paper offers an overview of the literature on bundling in the telecommunications sector and its application in the … Spanish market. We argue that the use of bundling in the provision of services is associated to technological reasons …. Therefore, there appears no need to regulate bundling activities. However, this is not to say that other related telecom markets …
Persistent link: https://www.econbiz.de/10010547193
In 1990 Colombia replaced its traditional system of severance payments with a new system of severance payments savings accounts (SPSAs). Although severance payments are often justified on the grounds that they provide insurance against earnings loss, they also increase costs for employers and...
Persistent link: https://www.econbiz.de/10010851477
The identification of aggregate human capital externalities is still not fully understood. The existing (Mincerian) approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, it yields positive externalities even when wages...
Persistent link: https://www.econbiz.de/10010547093
This paper tests whether aggregate matching is consistent with random matching or stock-flow matching. Using U.K. matching data and correcting for temporal aggregation bias, estimates of the random matching function are consistent with previous work in this field. The data however support the...
Persistent link: https://www.econbiz.de/10010547336
We find that over the period 1950-1990, US states absorbed increases in the supply of schooling due to tighter compulsory schooling and child labor laws mostly through within-industry increases in the schooling intensity of production. Shifts in the industry composition towards more...
Persistent link: https://www.econbiz.de/10010547510
Obtaining information about changes in market conditions is vital for the survival of the firms operating in a changing environment. In this paper, we offer a theory of information flows in a setting in which the principal faces a project choice and needs to induce the agent, who is responsible...
Persistent link: https://www.econbiz.de/10010547251
I study the optimal project choice when the principal relies on the agent in charge of production for project evaluation. The principal has to choose between a safe project generating a fixed revenue and a risky project generating an uncertain revenue. The agent has private information about the...
Persistent link: https://www.econbiz.de/10010547373
In this paper we present a model of oligopoly and financial constraints. We study allocations which are bankruptcy-free (BF) in the sense that no firm can drive another firm to bankruptcy without becoming bankrupt. We show how such allocations can be sustained as an equilibrium of a dynamic...
Persistent link: https://www.econbiz.de/10010547504
In this paper, we study mechanism design under collusion and uniform transfers focusing on the transaction costs in coalition formation created by asymmetric information among agents. We are particularly interested in the interaction between incompleteness of contracts and collusion: in our...
Persistent link: https://www.econbiz.de/10010547534