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Beyond the dogma of the fixed book price agreement

Ploeg, Frederick van der - 2003

After describing the essential features of the book market, a welfare analysis of the fixed book price agreement is … market is one of imperfect competition, but even so the cross-subsidy argument is unlikely to be valid. A qualitative …

Persistent link: https://www.econbiz.de/10011507914

A unified theory of firm selection and growth

Arkolakis, Costas - 2009

continuous arrival of new potential producers. Firms can also pay an increasing market penetration cost to sell more to a given … market. The model is consistent with a set of salient regularities of firm and exporter selection and growth, as well as the …

Persistent link: https://www.econbiz.de/10003850872

Corruption and the shadow economy

Choi, Jay Pil; Thum, Marcel - 2002

This paper develops a simple framework to analyze the links between corruption and the unofficial economy and their implications for the official economy. In a model of self-selection with heterogeneous entrepreneurs, we show that the entrepreneurs option to flee to the underground economy...

Persistent link: https://www.econbiz.de/10011408719

Technological change, entry and stock market dynamics : an analysis of transition in a monopolistic economy

Datta, Bipasa; Dixon, Huw - 2002

This paper explores an equilibrium model for industry entry dynamics and technological change. We focus on the share valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when technology improves. We find that there can be a U-shaped...

Persistent link: https://www.econbiz.de/10011408812

Rationalizing the UMTS spectrum bids : the case of the UK auction

Boergers, Tilman; Dustmann, Christian - 2002

This paper considers bidder behaviour in the United Kingdom s UMTS spectrum auction. Evidence is reviewed which shows that some bidders in this auction did not bid straightforwardly in accordance with fixed valuations of the licenses. We go on to consider more speculative hypotheses about...

Persistent link: https://www.econbiz.de/10011409209

Entry dynamics, capacity utilisation and productivity in a dynamic open economy

Aloi, Marta; Dixon, Huw - 2002

This paper analyses an open economy Ramsey model with an endogenous labour supply without capital. The technology defines an optimal firm size. Changes to the number of firms is subject to adjustment costs, so that the entry dynamics is determined endogenously. We find that there is a short run...

Persistent link: https://www.econbiz.de/10011409812

Reallocation of corporate resources and managerial incentives in internal capital markets

Brusco, Sandro; Panunzi, Fausto - 2002

Diversified firms often trade at a discount with respect to their focused counterparts. The literature has tried to explain the apparent misallocation of resources with lobbying activities or power struggles. We show that diversification can destroy value even when resources are efficiently...

Persistent link: https://www.econbiz.de/10011410226

A structural econometric model of price discrimination in the mortgage lending industry

Gary-Bobo, Robert; Larribeau, Sophie - 2002

We propose a model of discrimination in the market for mortgages. The model explains accepted loan applications and … discriminating monopoly maximizes profitsunder a borrower participation constraint, reflecting the availability of a rental market as … suggest the presence of market power, justifying an attempt at estimating its monopolistic version. The discriminating …

Persistent link: https://www.econbiz.de/10011410245

A market for connections

Miettinen, Topi; Poutvaara, Panu - 2012

Government or company decisions on whom to hire are mostly delegated to politicians, public sector officials or human resources and procurement managers. Due to anti-corruption laws, agents cannot sell contracts or positions that they are delegated to decide upon. Even if bribing is ruled out,...

Persistent link: https://www.econbiz.de/10009535107

Auctions and corruption

Lengwiler, Yvan; Wolfstetter, Elmar - 2000

In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects bidding, and how it altogether changes the revenue ranking...

Persistent link: https://www.econbiz.de/10011397659