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Regulatory Risk Under Optimal Incentive Regulation
Strausz, Roland - 2009
uncertainty about the policy variables in the regulator's objective function: weights attached to profits and costs of public …
Persistent link: https://www.econbiz.de/10013160045
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Formal Contracts, Relational Contracts, and the Threat-Point Effect
Itoh, Hideshi - 2011
Can formal contracts help resolving the holdup problem? We address this important question by studying the holdup problem in repeated transactions between a seller and a buyer in which the seller can make relation-specific investments in each period. In contrast to previous findings, we...
Persistent link: https://www.econbiz.de/10013121866
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Alliances in the Shadow of Conflict
Ke, Changxia - 2013
Victorious alliances often fight about the spoils of war. This paper presents an experiment on the determinants of whether alliances break up and fight internally after having defeated a joint enemy. First, if peaceful sharing yields an asymmetric rent distribution, this increases the likelihood...
Persistent link: https://www.econbiz.de/10013088227
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Incomplete Contracts and the Impact of Globalization on Consumer Welfare
Defever, Fabrice - 2014
We embed a North-South trade model into an incomplete contracts setting where the production of heterogeneous firms can be geographically separated. When a Northern headquarter contracts with a Southern supplier instead of a Northern supplier, the presence of international incomplete contracts...
Persistent link: https://www.econbiz.de/10013067873
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Managing Migration Through Conflicting Policies : An Option-Theory Perspective
Moretto, Michele - 2009
uncertainty over this migration upper bound may improve the government's control on migration inflows (quotas). This could explain …
Persistent link: https://www.econbiz.de/10013157501
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Competition for Natural Resources and the Hold-Up Problem
Hefeker, Carsten - 2016
We study the role of competition for the hold-up problem in foreign direct investment in resource-based industries. The host country government is not only unable to commit not to expropriate investment ex post, but is also unable to commit to the provision of local resources. In the case of...
Persistent link: https://www.econbiz.de/10012979104
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Preemption, Start-Up Decisions and the Firms' Capital Structure
Moretto, Michele; Panteghini, Paolo M. - 2021
In this article, we analyse the interactions between financial and start-up decisions in an oligopolistic framework, where firms compete to enter a new market. We show that preemption can substantially reduce the negative effects of credit rationing on start-up investment decisions
Persistent link: https://www.econbiz.de/10013317029
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Formal Contracts, Relational Contracts, and the Holdup Problem
Itoh, Hideshi; Morita, Hodaka - 2008
We study the holdup problem in repeated transactions between a seller and a buyer such that the seller makes relation-specific investments in each period. We show that where, under spot transaction, formal contracts have no value because of the cooperative nature of investment, writing a simple...
Persistent link: https://www.econbiz.de/10014028957
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Tax Interaction Among Walloon Municipalities : Is there Room for Yardstick Competition, Intellectual Trend and Partisan Monopoly Effect?
Gérard, Marcel - 2012
Three sources of strategic tax interactions among local jurisdictions are usually considered in the literature: public expenditure spill-over, tax competition and yardstick competition. However, another source has now been suggested: the intellectual trend. According to that hypothesis,...
Persistent link: https://www.econbiz.de/10013096572
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Infrastructure Investment in Network Industries : The Role of Incentive Regulation and Regulatory Independence
Égert, Balázs - 2009
changed investment in network industries. According to the theoretical literature, regulatory uncertainty exposes both types … of regimes to the danger of underinvestment. However, regulatory uncertainty is arguably higher under rate … regulation implemented jointly with an independent sector regulator (indicating lower regulatory uncertainty) has a strong …
Persistent link: https://www.econbiz.de/10013160048