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Entrepreneurial Innovations, Competition and Competition Policy
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2006
We show that, in the case when innovations are for sale, increased product market competition, captured by reduced … the bidding competition for the innovation and by increasing the relative profitability of being the most efficient firm … in the industry. Moreover, it is shown that increased intensity of competition can increase the relative profitability of …
Persistent link: https://www.econbiz.de/10005419538
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The Auctioning of a Failing Firm.
Persson, L. - Institutet för Näringslivsforskning (IFN) - 1999
cost inefficiencies, due to a "least danger to competition" (LDC) condition, which favors small, and thus inefficient …
Persistent link: https://www.econbiz.de/10005639318
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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - Institutet för Näringslivsforskning (IFN) - 2009
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10005245161
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Congestion Management in Electricity Networks: Nodal, Zonal and Discriminatory Pricing
Holmberg, Pär; Lazarczyk, Ewa - Institutet för Näringslivsforskning (IFN) - 2012
Wholesale electricity markets use different market designs to handle congestion in the transmission network. We compare nodal, zonal and discriminatory pricing in general networks with transmission constraints and loop flows. We conclude that in large games with many producers who are allowed to...
Persistent link: https://www.econbiz.de/10011271350
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Investment Lilberalization - Why a Restrictive Cross-Border Merger Policy can be Counterproductive
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2006
Investment liberalizing countries are often concerned that cross-border mergers & acquisitions, in contrast to greenfield investments, might have an adverse effect on domestic firms and consumers. However, given that domestic assets are sufficiently scarce, we identify a preemption effect and an...
Persistent link: https://www.econbiz.de/10005082488
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Supply Function Equilibria: Step Functions and Continuous Representations
Holmberg, Pär; Newbery, David; Ralph, Daniel - Institutet för Näringslivsforskning (IFN) - 2009
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
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Supply Function Equilibria of Pay-as-Bid Auctions
Holmberg, Pär - Institutet för Näringslivsforskning (IFN) - 2009
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
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Robustness to Strategic Uncertainty
Andersson, Ola; Argenton, Cédric; Weibull, Jörgen W. - Institutet för Näringslivsforskning (IFN) - 2012
criterion to a class of Bertrand competition games. These are discontinuous games that admit a continuum of Nash equilibria. Our …
Persistent link: https://www.econbiz.de/10010539859
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Entrepreneurial Innovations and Taxation
Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2012
Many governments promote small businesses for the dual reasons of fostering ‘breakthrough’ innovations and employment growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs’ choice of riskiness of an innovation project and on their mode of commercializing...
Persistent link: https://www.econbiz.de/10009399312
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Ownership Efficiency and Tax Advantages: The Case of Private Equity Buyouts
Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - Institutet för Näringslivsforskning (IFN) - 2010
. However, tax advantages are of importance under limited bidding competition, limited deductibility and in the presence of …
Persistent link: https://www.econbiz.de/10008599462