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Contractual Incompleteness and the Nature of Market Interactions
Brown, Martin; Falk, Armin; Fehr, Ernst - C.E.P.R. Discussion Papers - 2002
We provide experimental evidence that contractual incompleteness, ie, the absence of third party enforcement of workers’ effort or the quality of the good traded causes a fundamental change in the nature of market interactions. If contracts are complete the vast majority of trades are...
Persistent link: https://www.econbiz.de/10005661770
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Industrial Policy and Competition
Aghion, Philippe; Dewatripont, Mathias; Du, Liqun; … - C.E.P.R. Discussion Papers - 2011
enterprises for the period 1998 through 2007 to test for complementarity between competition and industrial policy. A main … competition-friendly and therefore more growth-enhancing. …
Persistent link: https://www.econbiz.de/10009359485
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Add-on Pricing, Naive Consumers, and the Hidden Welfare Costs of Education
Kosfeld, Michael; Schüwer, Ulrich - C.E.P.R. Discussion Papers - 2011
Previous research shows that firms shroud high add-on prices in competitive markets with naive consumers leading to inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare. Our model allows firms to shroud, unshroud, or...
Persistent link: https://www.econbiz.de/10009367427
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Essential Facility Financing and Market Structure
Caillaud, Bernard; Tirole, Jean - C.E.P.R. Discussion Papers - 2001
to pay more for exclusivity, the higher the demand (the lower the cost), that is precisely when competition yields the …
Persistent link: https://www.econbiz.de/10005662107
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Competition in Electricity Supply: Will '1998' be Worth it?
Green, Richard; McDaniel, Tanga - C.E.P.R. Discussion Papers - 1998
Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … transactions costs exceeding £100 million a year for the first five years. Relative to a counterfactual without competition, there …
Persistent link: https://www.econbiz.de/10005662134
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Competition and Entry in Banking: Implications for Stability and Capital Regulation
Boot, Arnoud W A; Marinc, Matej - C.E.P.R. Discussion Papers - 2006
We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … show that competition improves the monitoring incentives of better quality banks and deteriorates the incentives of lower … quality banks; and that precisely for those lower quality banks competition typically compromises the effectiveness of capital …
Persistent link: https://www.econbiz.de/10005666421
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The Determinants of Privatized Enterprise Performance in Russia
Angelucci, Manuela; Bevan, Alan; Estrin, Saul; Fennema, … - C.E.P.R. Discussion Papers - 2002
; corporate governance; market structures and competition; and financial constraints. We conclude that private ownership and …
Persistent link: https://www.econbiz.de/10005666814
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Financial Integration and Entrepreneurial Activity: Evidence from Foreign Bank Entry in Emerging Markets
Giannetti, Mariassunta; Ongena, Steven - C.E.P.R. Discussion Papers - 2005
An extensive empirical literature has documented the positive growth effects of equity market liberalization. However, this line of research ignores the impact of financial integration on a category of firms crucial for economic development, i.e. the small entrepreneurial firms. This paper aims...
Persistent link: https://www.econbiz.de/10005666993
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Competition, Entry, and the Social Returns to Infrastructure in Transition Economies
Aghion, Philippe; Schankerman, Mark - C.E.P.R. Discussion Papers - 1999
product market competition. This leads to more effective weeding out of the existing high-cost firms in the market. In this …
Persistent link: https://www.econbiz.de/10005667044
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Regulation and Incentives in European Aviation
Gagnepain, Philippe; Uribe, Marín; Luis, Pedro - C.E.P.R. Discussion Papers - 2004
The aim of this Paper is to evaluate simultaneously market power and the incentives faced by carriers to improve efficiency, taking into account the regulatory changes that have affected the European airline industry. We construct and estimate a model that includes demand, capacity, and cost...
Persistent link: https://www.econbiz.de/10005667136