Narrow search
Showing 1 - 10 of 718
Cover Image
Entrepreneurial Innovations, Competition and Competition Policy
Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2008
product competition tends to increase the relative profitability of innovation for sale relative to entry. Increased … competition reduces entrants' and acquirers' profits in a similar fashion, but also reduces the profit of non-acquirers. Therefore …, incumbents' valuations of innovations are less negatively affected by increased competition than entrants' profits. This, in turn …
Persistent link: https://www.econbiz.de/10005497863
Cover Image
Leniency Programs and Cartel Prosecution
Motta, Massimo; Polo, Michele - C.E.P.R. Discussion Papers - 2000
We study the enforcement of competition policy against collusion under Leniency Programs, which give reduced fines to …
Persistent link: https://www.econbiz.de/10005661610
Cover Image
Buyers' Coordination and Entry
Fumagalli, Chiara; Motta, Massimo - C.E.P.R. Discussion Papers - 2001
eliminated. Without the penalty, we show that downstream competition also facilitates entry. The stronger the competition among …
Persistent link: https://www.econbiz.de/10005789109
Cover Image
Finite State Dynamic Games with Asymmetric Information: A Framework for Applied Work
Fershtman, Chaim; Pakes, Ariel - C.E.P.R. Discussion Papers - 2005
We present a framework for the applied analysis of dynamic games with asymmetric information. The framework consists of a definition of equilibrium, and an algorithm to compute it. Our definition of Applied Markov Perfect equilibrium is an extension of the definition of Markov Perfect...
Persistent link: https://www.econbiz.de/10005791237
Cover Image
Allocative and Productive Efficiency in REE with Asymmetric Information
Messner, Simon; Vives, Xavier - C.E.P.R. Discussion Papers - 2001
We characterize the divergence between in informational and economic efficiency in a rational expectations competitive market with asymmetric information about the costs of production. We find that prices may contain too much or too little information with respect o incentive efficient...
Persistent link: https://www.econbiz.de/10005791369
Cover Image
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
Cover Image
Privatization and Restructuring in Concentrated Markets
Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2005
This Paper examines the restructuring of state assets in markets deregulated by privatizations and investment … where a slow sale can significantly reduce the sales price because of strategic investment and product market effects. …
Persistent link: https://www.econbiz.de/10005792109
Cover Image
Symmetrical Research Joint Ventures: Cooperative Substitutes and Complements
Leahy, Dermot; Neary, J Peter - C.E.P.R. Discussion Papers - 2004
We introduce the concept of cooperative substitutes and complements, and use it to throw light on the conditions for a research joint venture to choose equal levels of R&D by all member firms. We show that the second-order conditions for a symmetric optimum take a particularly simple form,...
Persistent link: https://www.econbiz.de/10005792122
Cover Image
Vertical Merger, Collusion, and Disruptive Buyers
Nocke, Volker; White, Lucy - C.E.P.R. Discussion Papers - 2010
In a repeated game setting of a vertically related industry, we study the collusive effects of vertical mergers. We show that any vertical merger facilitates upstream collusion, no matter how large (in terms of capacity or size of product portfolio) the integrated downstream buyer. But a...
Persistent link: https://www.econbiz.de/10008468660
Cover Image
Product Variety and Welfare under Discriminatory and Mill Pricing Policies
Norman, George; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 1994
We re-examine the economic justification for the regulation of firms' spatial price policies. Existing analysis, by treating market structure as exogenous, loses an important trade-off. Discriminatory pricing is more competitive between incumbents but acts as a strong deterrent against entry....
Persistent link: https://www.econbiz.de/10005136598