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Cornelli, Francesca; Felli, Leonardo - CESifo - 2000

The restructuring of a bankrupt company often entails the sale of such company. This paper suggests a way to sell the company that maximizes the creditors' proceeds. The key to this proposal is the option left to the creditors to retain a fraction of the shares of the company. Indeed, by...

Persistent link: https://www.econbiz.de/10005405745

Conflicts with Multiple Battlefields

Dan Kovenock J.; Roberson, Brian - CESifo - 2010

This paper examines conflicts in which performance is measured by the players' success or failure in multiple component conflicts, commonly termed “battlefields”. In multi-battlefield conflicts, behavioral linkages across battlefields depend both on the technologies of conflict within each...

Persistent link: https://www.econbiz.de/10008671699

The Scope of Auctions in the Presence of Downstream Interactions and Information Externalities

Koska, Onur A.; Onur, Ilke; Stähler, Frank - CESifo - 2015

-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

Persistent link: https://www.econbiz.de/10011205382

Trade Openness, Market Competition, and Inflation: Some Sectoral Evidence from OECD Countries

Binici, Mahir; Cheung, Yin-Wong; Lai, Kon S. - CESifo - 2011

This study evaluates the role market competition plays in determining inflation based on sector-level data from OECD countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity. Nonetheless, previous empirical studies often fail to account...

Persistent link: https://www.econbiz.de/10009391719

The Power to Pass on Taxes - A Test for Tax Shifting Based on Observables

Jametti, Mario; Redonda, Agustin; Sen, Anindya - CESifo - 2013

Since gasoline has a relatively inelastic demand, raising government revenue via gasoline taxes could appear appropriate as it entails a relatively small deadweight loss. However, gasoline retail is generally a highly concentrated market, hence the assumption of perfect competition when...

Persistent link: https://www.econbiz.de/10010667419

The Impact of Entry Regulation on Total Welfare: A Policy Experiment

Liu, An-Hsiang; Siebert, Ralph; Zulehner, Christine - CESifo - 2013

This paper evaluates how different lengths of entry regulation impact market structure and market performance using a dynamic structural model. We formulate an oligopoly model in the tradition of Ericson and Pakes (1995) and allow entry costs to vary over time. Firms have the opportunity to...

Persistent link: https://www.econbiz.de/10010670793

Optimal Tariffs and Subsidies And Changes in Markets Structure

Egli, Dominik; Westermann, Frank - CESifo - 2000

We present a unified treatment of optimal trade policy for a small country. The well-known results for duopoly and competitive markets emerge as benchmark cases of our model. In addition, we show that changes in market structure have non-monotonic effects on optimal tariffs. Our results suggest...

Persistent link: https://www.econbiz.de/10005765663

Profitable Horizontal Mergers without Cost Advantages: The Role of Internal Organization, Information, and Market Structure

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - CESifo - 2001

Merged firms are typically rather complex organizations. Accordingly, merger has a more profound effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The...

Persistent link: https://www.econbiz.de/10005765715

Market Structure, Technological Gap and Vertical Linkage Effects from Foreign Direct Investment

Kadochnikov, Sergey M.; Drapkin, Igor M. - CESifo - 2008

This paper is based on the model of backward linkages from foreign direct investment (FDI) Lin/Saggi (2003), where the market structure of the final goods sector is represented by a monopoly or Cournot oligopoly, and the supplier sector – by a pure monopoly. We extend this model by examining...

Persistent link: https://www.econbiz.de/10005766265

International Trade and Retailing

Eckel, Carsten - CESifo - 2009

The New Trade Theory predicts that international trade lowers prices for consumers and expands the choices available to them. This study shows that both predictions may no longer hold once adjustments in the retail sector are taken into account. I present a new model of retailing in general...

Persistent link: https://www.econbiz.de/10005051532