The neoclassical way to cope with firms providing services, or with clubs procuring services, is restricted by the lack of institutional features. An institutional approach is introduced that requires a cooperative governance to realize the potential value-production by firms, or to realize the...

Cooperative behavior as well as other cultural rules and values are made explicit in organizational units that procure and provide a common service. The common service is procured by a club, which consists of a user-value function, a representation governance, and a budget-allocation function....

Purpose – Provide insight into the determinants or constructs that enable informally networked supply chains to operate in order to achieve improved operational performance. Design/methodology/approach – The research is based on a wide literature review, focused on the identification of...

We study the choice between regulating interconnection charges or delegating their determination to the operators, both in a non-mature and a mature market. Three regulatory regimes are considered: full, cost-based and bill-and-keep. Delegation corresponds to bargaining about the interconnection...

This paper compares the welfare effects of three ways in which health care can be organized: no competition (NC), competition for the market (CfM) and competition on the market (CoM) where the payer offers the optimal contract to providers in each case. We argue that each of these can be optimal...

This paper introduces optimal competition: the best form of competition in an industry that a competition authority can achieve under the information constraint that it cannot observe firms' effciency levels.We show that the optimal competition outcome in an industry becomes more competitive as...

Calvin’s view on the legitimacy of interest has had a great impact on the economic development of Western society. Although Calvin took a fundamentally positive attitude to interest, he also proposed several restrictions on the charging of interest. In this article, we investigate the...

This paper investigates whether voting coalitions are formed by shareholders in order to discipline incumbent management. Shapley values capturing the relative power of shareholder coalitions by category of owner, outperform models with percentage ownership stakes and models measuring the...

This paper examines how corporate control is exerted in companies listed on the Brussels Stock Exchange. There are several alternative corporate governance mechanisms which may play a role in disciplining poorly performing management: blockholders (holding companies, industrial companies,...