Showing 1 - 10 of 94
In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction, and the market is cleared at the price of the most expensive offer needed to meet realised demand. Such markets can most elegantly be modelled as the pure-strategy, Nash...
Persistent link: https://www.econbiz.de/10005025457
This paper characterizes the Nash equilibrium in a pay-as-bid (discriminatory), divisible-good, procurement auction. Demand by the auctioneer is uncertain as in the supply function equilibrium model. A closed form expression is derived. Existence of an equilibrium is ensured if the hazard rate...
Persistent link: https://www.econbiz.de/10005025460
policies, taxation and the regulation of labor markets. Institutions have far-reaching effects on entrepreneurship, and they …
Persistent link: https://www.econbiz.de/10005645286
In this introductory chapter to a collective volume dealing with the political economy of entrepreneurship,* we argue, based on a suggested unifying framework, that political economy is a fruitful approach to entrepreneurship. The importance of institutions in structuring such an analysis is...
Persistent link: https://www.econbiz.de/10005645310
We outline a politico-economic growth system centered around the entrepreneur. By defining entrepreneurs in relation to economic rents we are able to develop a more general theory comprising central aspects of research within the fields of entrepreneurship/small business, public choice and new...
Persistent link: https://www.econbiz.de/10005645430
In this introductory chapter to a collective volume,* we build on Baumol’s (1990) framework to categorize, catalog, and classify the budding research field that explores the interplay between institutions and entrepreneurship. Institutions channel entrepreneurial supply into productive or...
Persistent link: https://www.econbiz.de/10008794457
domestically-owned firms is through the impact on competition. We examine the effect of FDI on competition in the Chinese … manufacturing sector and the effect of competition on firms’ R&D. Our analysis is conducted on a large dataset including all Chinese … large and medium sized firms over the period 1998-2004. Our results show that FDI increases competition but there are no …
Persistent link: https://www.econbiz.de/10005645313
Quantifying possible inefficiencies stemming from regulation is important to both policymakers and researchers. We use …
Persistent link: https://www.econbiz.de/10011240431
No abstract.
Persistent link: https://www.econbiz.de/10010611584
It is often assumed that recent success in the high-technology software industry will lead India's development. However, evidence suggest that basic manufacturing industry is stagnant. This paper proposes a mechanism that ties these two trends together. A big-push type of model, featuring...
Persistent link: https://www.econbiz.de/10005645377