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A Game Theoretic Foundation of Competitive Equilibria with Adverse Selection
Netzer, Nick - 2012
We construct a fully specified extensive form game that captures competitive markets with adverse selection. In particular, it allows firms to offer any finite set of contracts, so that cross-subsidization is not ruled out. Moreover, firms can withdraw from the market after initial contract...
Persistent link: https://www.econbiz.de/10012460190
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A Comparison of Tournaments and Contracts
Green, Jerry R. - 1982
Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The...
Persistent link: https://www.econbiz.de/10012478271
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Selecting the Best? Spillover and Shadows in Elimination Tournaments
Brown, Jennifer - 2011
We consider how past, current, and future competition within an elimination tournament affect the probability that the …
Persistent link: https://www.econbiz.de/10012461018
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Tournament-Style Political Competition and Local Protectionism : Theory and Evidence from China
Fang, Hanming; Li, Ming; Wu, Zenan - National Bureau of Economic Research - 2022
We argue that inter-jurisdictional competition in a regionally decentralized authoritarian regime distorts local … presence of regional spillover and the incentive for political competition leads to biased resource allocations against the … political competition, they allocate less government procurement contracts to firms in the competing city; second, local firms …
Persistent link: https://www.econbiz.de/10013477272
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The Competition Between Competition Rules
Sinn, Hans-Werner - 1999
Open borders imply systems competition. This paper studies the implications of systems competition for the national … competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since …
Persistent link: https://www.econbiz.de/10012471517
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Conversations Among Competitors
Stein, Jeremy C. - 2007
I develop a model of bilateral conversations in which players may honestly exchange ideas with their competitors. The key to incentive compatibility is a strong form of complementarity in the information structure: a player can only generate a useful new insight on a given topic if he has access...
Persistent link: https://www.econbiz.de/10012465280
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A Model of Forum Shopping, with Special Reference to Standard Setting Organizations
Lerner, Josh - 2004
Owners of intellectual property or mere sponsors of an idea (e.g., authors, security issuers, sponsors of standards) often need to persuade potential buyers or adopters of the worth of their property or idea. To this purpose, they often resort to more or less independent certifiers. This paper...
Persistent link: https://www.econbiz.de/10012468026
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An Experimental Study of Decentralized Link Formation with Competition
Comola, Margherita - 2015
We design a laboratory experiment to investigate bilateral link formation in a setting where payoffs are pair-specific. Our link formation rule is decentralized and players can make link offers and counter-offers, as in a Beckerian marriage market. The game is designed in such a way that a...
Persistent link: https://www.econbiz.de/10012456913
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Competition in Persuasion
Gentzkow, Matthew - 2011
impact of competition on information revelation is ambiguous in general. We identify a condition on the information …
Persistent link: https://www.econbiz.de/10012461222
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Collective Hold-Up
Iaryczower, Matiás; Oliveros, Santiago - National Bureau of Economic Research - 2022
We consider dynamic processes of coalition formation in which a principal bargains sequentially with a group of agents. This problem is at the core of a variety of applications in economics and politics, including a lobbyist seeking to pass a bill, an entrepreneur setting up a start-up, or a...
Persistent link: https://www.econbiz.de/10013191078