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Participation Games: Market Entry, Coordination and the Beautiful Blonde

Anderson, Simon P; Engers, Maxim - C.E.P.R. Discussion Papers - 2005

We find the Nash equilibria for monotone n-player symmetric games where each player chooses whether to participate. Examples include market entry games, coordination games, and the bar-room game depicted in the movie 'A Beautiful Mind'. The symmetric Nash equilibrium involves excessive...

Persistent link: https://www.econbiz.de/10005662078

The Deep Pocket Effect of Internal Capital Markets

Boutin, Xavier; Cestone, Giacinta; Fumagalli, Chiara; … - C.E.P.R. Discussion Papers - 2009

This paper provides evidence that incumbents' access to group deep pockets has a negative impact on entry in product markets. Relying on a unique French data set on business groups, the paper presents three major findings. First, consistent with theoretical predictions, the amount of financial...

Persistent link: https://www.econbiz.de/10005791859

The European UMTS/IMT-2000 Licence Auctions

Jehiel, Philippe; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2001

Europe has taken the global lead in the issuance of third generation (3G) licences for mobile telecommunications according to the UMTS/IMT-2000 family of standards. We survey the recent European UMTS licence auctions and compare their outcomes with the predictions of a simple auction model that...

Persistent link: https://www.econbiz.de/10005792176

Bank Competition and Enterprise restructuring in Transition Economies

Schnitzer, Monika - C.E.P.R. Discussion Papers - 1998

We investigate how bank competition affects the efficiency of credit allocation, using a model of spatial competition. Our analysis shows that bad loans are more likely the larger the number of banks competing for customers. We study further how many banks will be active if market entry is not...

Persistent link: https://www.econbiz.de/10005067568

Entrepreneurial innovations and taxation

Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2012

Stimulating entrepreneurship is high on the policy agenda of many countries. We study the effects of tax policies on entrepreneurs’ choice of riskiness (quality) of an innovation project, and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset...

Persistent link: https://www.econbiz.de/10011083431

Procurement with specialized firms

Boone, Jan; Schottmüller, Christoph - C.E.P.R. Discussion Papers - 2011

This paper analyzes optimal procurement mechanisms in a setting where the procurement agency has incomplete information concerning the firms' cost functions and cares about quality as well as price. Low type firms are cheaper than high type firms in providing low quality but more expensive when...

Persistent link: https://www.econbiz.de/10009385768

Banking Competition and European Integration

Vives, Xavier - C.E.P.R. Discussion Papers - 1990

We assess how banking competition will be affected by the process of deregulation and integration in European financial …

Persistent link: https://www.econbiz.de/10005666400

Deregulation of Business

Yakovlev, Evgeny; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2007

What determines the enforcement of deregulation reform of business activities? What are the outcomes of deregulation … variation. 2) The enforcement of deregulation reform was better in regions with a transparent government, low corruption, better … substantial positive effect of deregulation on net entry and small business employment and no effect on pollution and public …

Persistent link: https://www.econbiz.de/10005667109

Firms Merge in Response to Constraints

Boone, Jan - C.E.P.R. Discussion Papers - 2006

Theoretical IO models of horizontal mergers and acquisitions make the critical assumption of efficiency gains. Without efficiency gains, these models predict either that mergers are not profitable or that mergers are welfare reducing. A problem here is the empirical observation that on average...

Persistent link: https://www.econbiz.de/10005789008

The Competition Between Competition Rules

Sinn, Hans-Werner - C.E.P.R. Discussion Papers - 1999

profits. Instead of such an equilibrium, a deregulation race is likely to emerge in which all but the last country repeal … their antitrust laws. The deregulation race results in a chain of Stackelberg leadership positions taken over by national …

Persistent link: https://www.econbiz.de/10005791228