Showing 1 - 10 of 92
This paper analyses a dynamic game of investment in R&D or advertising, where current investments change future market … conditions. It investigates whether underinvestment can be supported in equilibrium by the threat of escalation in investment … investment in equilibrium. Furthermore, potential entry is introduced into the model so as to address the issues of market …
Persistent link: https://www.econbiz.de/10010745545
Generic competition in the pharmaceutical market is an effective cost-containment mechanism that improves static efficiency and stimulates pharmaceutical innovation. There is no prior study that has empirically analysed the relative delays in adoption of generic competition. This paper aims to...
Persistent link: https://www.econbiz.de/10010745148
nature of local political control in the UK from 1993 to 2003. Since local politicians directly control planning regulation … independent retailers between 1998 and 2004 can be attributed to the perverse effect of planning regulation. …
Persistent link: https://www.econbiz.de/10010746338
This paper examines the impact of regulatory intervention to cut termination rates of calls from fixed lines to mobile phones. Under quite general conditions of competition, theory suggests that lower termination charges will result in higher prices for mobile subscribers, a phenomenon known as...
Persistent link: https://www.econbiz.de/10011071382
investment. Uncertainty increases real option values making firms more cautious when investing or disinvesting. This is confirmed … both numerically for a model with a rich mix of adjustment costs, time-varying uncertainty, and aggregation over investment … investment response to demand shocks. This implies the responsiveness of firms to any given policy stimulus may be much lower in …
Persistent link: https://www.econbiz.de/10010928730
employment, investment and productivity, and a moderate loss in GDP. This temporary impact of a second moment shock is different …
Persistent link: https://www.econbiz.de/10010744930
This paper uses a difference-in-difference style estimation strategy to test separately the impact of competition from public sector and private sector hospitals on the efficiency of public hospitals. Our identification strategy takes advantage of the phased introduction of a recent set of...
Persistent link: https://www.econbiz.de/10010884637
This paper examines whether or not hospital competition in a market with fixed reimbursement prices can prompt improvements in clinical quality. In January 2006, the British Government introduced a major extension of their market-based reforms to the English National Health Service. From January...
Persistent link: https://www.econbiz.de/10010884675
Certain recently reported statistical regularities relating to the dispersion of firms' growth rates have begun to attract attention among IO economists. These relationships take the form of power law or scaling relationships and this has led to suggestions that the underlying mechanisms which...
Persistent link: https://www.econbiz.de/10010928814
Case study evidence suggests that exporting firms learn from their clients. But econometric evidence, mostly using exporting and TFP growth, is mixed. We use a UK panel data set with firm-level information on exporting and productivity. Our innovation is that we also have direct data on the...
Persistent link: https://www.econbiz.de/10010744844