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Upstream horizontal mergers and efficiency gains

Milliou, Chrysovalantou; Pavlou, Apostolis - 2009

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger can give rise to two efficiency-enhancing effects when firms trade through two-part tariffs. It increases R&D investments and decreases wholesale prices when downstream...

Persistent link: https://www.econbiz.de/10010484491

Manufacturers mergers and product variety in vertically related markets

Milliou, Chrysovalantou; Sandonís, Joel - 2014

We study final product manufacturers’ incentives to introduce new products into the market and how they are affected by a merger among them. We show that when manufacturers distribute their products through multi-product retailers, a manufacturers merger, although it leads to an increase in...

Persistent link: https://www.econbiz.de/10010388531

Vertical licensing, input pricing, and entry

Bakaouka, Elpiniki; Milliou, Chrysovalantou - 2017

We explore the incentives of a vertically integrated incumbent firm to license the production technology of its core input to an external firm, transforming the licensee into its input supplier. We find that the incumbent opts for licensing even when licensing also transforms the licensee into...

Persistent link: https://www.econbiz.de/10011597751

Making sense of non-binding retail-price recommendations

Bühler, Stefan; Gärtner, Dennis L. - 2010

We model non-binding retail-price recommendations (RPRs) as a communication device facilitating coordination in vertical supply relations. Assuming both repeated vertical trade and asymmetric information about production costs, we show that RPRs may be part of a relational contract,...

Persistent link: https://www.econbiz.de/10003965874

Who should pay for certification?

Stahl, Konrad; Strausz, Roland - 2011

Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer or the seller? Our answer - the seller - follows from a nontrivial analysis revealing a clear intuition. Buyer-induced certification acts as an inspection device,...

Persistent link: https://www.econbiz.de/10009011365

The theory of human capital revisited : on the interaction of general and specific investments

Kessler, Anke S.; Lülfesmann, Christoph - 2002

Human capital theory distinguishes between training in general-usage and firm-specific skills. In his seminal work, Becker (1964) argues that employers will not be willing to invest in general training when labor markets are competitive. However, they are willing to invest in specific training...

Persistent link: https://www.econbiz.de/10011541144

Selling reputation when going out of business : presented at CEFifo Area Conference on Industrial Organisation, March 2004

Hakenes, Hendrik; Peitz, Martin - CESifo Area Conference on Industrial Organisation … - 2004

Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable? We consider a competitive market in which a share of owners must retire in each period. New owners, observing only recent profits, bid for the firms on sale. Customers are...

Persistent link: https://www.econbiz.de/10011449475

Migration between platforms

Biglaiser, Gary; Crémer, Jacques; Veiga, André - 2020

We study incumbency advantage in markets with positive consumption externalities. Users of an incumbent platform receive stochastic opportunities to migrate to an entrant. They can accept a migration opportunity or wait for a future opportunity. In some circumstances, users have incentives to...

Persistent link: https://www.econbiz.de/10012195821

Sequential innovation, naked exclusion, and upfront lump-sum payments

Choi, Jay Pil; Stefanadis, Christodoulos - 2017

We present a potentially benign naked exclusion mechanism that can be applied to sequential innovation; a non …-patentable original innovation by the incumbent supplier fosters derivative innovation by rivals. In the absence of an appropriate legal … innovator. The former ban precludes the exclusion of socially beneficial derivative innovation by causing the incumbent supplier …

Persistent link: https://www.econbiz.de/10011637645

Innovation of network goods : a non-innovating firm will gain

Glazer, Amihai; Kanniainen, Vesa; Mustonen, Mikko - 2002

of a consumer increases with aggregate consumption. The post-innovation network consists of two compatible sub … underinvest in innovation. …

Persistent link: https://www.econbiz.de/10011409408

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