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Participation Games: Market Entry, Coordination and the Beautiful Blonde
Anderson, Simon P; Engers, Maxim - C.E.P.R. Discussion Papers - 2005
We find the Nash equilibria for monotone n-player symmetric games where each player chooses whether to participate. Examples include market entry games, coordination games, and the bar-room game depicted in the movie 'A Beautiful Mind'. The symmetric Nash equilibrium involves excessive...
Persistent link: https://www.econbiz.de/10005662078
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The Deep Pocket Effect of Internal Capital Markets
Boutin, Xavier; Cestone, Giacinta; Fumagalli, Chiara; … - C.E.P.R. Discussion Papers - 2009
This paper provides evidence that incumbents' access to group deep pockets has a negative impact on entry in product markets. Relying on a unique French data set on business groups, the paper presents three major findings. First, consistent with theoretical predictions, the amount of financial...
Persistent link: https://www.econbiz.de/10005791859
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The European UMTS/IMT-2000 Licence Auctions
Jehiel, Philippe; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2001
Europe has taken the global lead in the issuance of third generation (3G) licences for mobile telecommunications according to the UMTS/IMT-2000 family of standards. We survey the recent European UMTS licence auctions and compare their outcomes with the predictions of a simple auction model that...
Persistent link: https://www.econbiz.de/10005792176
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Bank Competition and Enterprise restructuring in Transition Economies
Schnitzer, Monika - C.E.P.R. Discussion Papers - 1998
We investigate how bank competition affects the efficiency of credit allocation, using a model of spatial competition … loans compared to the social optimum. Finally, we analyse how bank competition affects the firms' restructuring effort. We …
Persistent link: https://www.econbiz.de/10005067568
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Entrepreneurial innovations and taxation
Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2012
leading to more competition in the product market. …
Persistent link: https://www.econbiz.de/10011083431
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Industrial Policy and Competition
Aghion, Philippe; Dewatripont, Mathias; Du, Liqun; … - C.E.P.R. Discussion Papers - 2011
enterprises for the period 1998 through 2007 to test for complementarity between competition and industrial policy. A main … competition-friendly and therefore more growth-enhancing. …
Persistent link: https://www.econbiz.de/10009359485
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Add-on Pricing, Naive Consumers, and the Hidden Welfare Costs of Education
Kosfeld, Michael; Schüwer, Ulrich - C.E.P.R. Discussion Papers - 2011
Previous research shows that firms shroud high add-on prices in competitive markets with naive consumers leading to inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare. Our model allows firms to shroud, unshroud, or...
Persistent link: https://www.econbiz.de/10009367427
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Essential Facility Financing and Market Structure
Caillaud, Bernard; Tirole, Jean - C.E.P.R. Discussion Papers - 2001
to pay more for exclusivity, the higher the demand (the lower the cost), that is precisely when competition yields the …
Persistent link: https://www.econbiz.de/10005662107
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Competition in Electricity Supply: Will '1998' be Worth it?
Green, Richard; McDaniel, Tanga - C.E.P.R. Discussion Papers - 1998
Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … transactions costs exceeding £100 million a year for the first five years. Relative to a counterfactual without competition, there …
Persistent link: https://www.econbiz.de/10005662134
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Competition and Entry in Banking: Implications for Stability and Capital Regulation
Boot, Arnoud W A; Marinc, Matej - C.E.P.R. Discussion Papers - 2006
We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … show that competition improves the monitoring incentives of better quality banks and deteriorates the incentives of lower … quality banks; and that precisely for those lower quality banks competition typically compromises the effectiveness of capital …
Persistent link: https://www.econbiz.de/10005666421