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Exit and power in general equilibrium
Gersbach, Hans; Haller, Hans - 2008
We integrate individual power in groups into general equilibrium models. The relationship between group formation, resource allocation, and the power of specific individuals or particular sociological groups is investigated. We introduce, via an illustrative example, three appealing concepts of...
Persistent link: https://www.econbiz.de/10010484493
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An equilibrium model of the market for Bitcoin mining
Prat, Julien; Walter, Benjamin - 2018
We propose a model which uses the Bitcoin/US dollar exchange rate to predict the computing power of the Bitcoin network. We show that free entry places an upper-bound on mining revenues and we devise a structural framework to measure its value. Calibrating the model's parameters allows us to...
Persistent link: https://www.econbiz.de/10011789223
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Ten facts on declining business dynamism and lessons from endogenous growth theory
Akcigit, Ufuk; Ates, Sina T. - 2019
explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially …
Persistent link: https://www.econbiz.de/10012104042
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A retrospective study of state aid control in the German broadband market
Duso, Tomaso; Nardotto, Mattia; Seldeslachts, Jo - 2021
subsidies complied with EU state aid rules, both in terms of effectiveness and competition. …
Persistent link: https://www.econbiz.de/10012433753
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Product differentiation and oligopoly : a network approach
Pellegrino, Bruno - 2023
extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in …
Persistent link: https://www.econbiz.de/10013503368
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Common ownership, competition, and top management incentives
Antón, Miguel; Ederer, Florian; Giné, Mireia; … - 2016
We show theoretically and empirically that executives are paid less for their own firm's performance and more for their rivals' performance if an industry's firms are more commonly owned by the same set of investors. Higher common ownership also leads to higher unconditional total pay. We...
Persistent link: https://www.econbiz.de/10011561142
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Consumer loss aversion and scale-dependent psychological switching costs
Karle, Heiko; Schumacher, Heiner; Vølund, Rune - 2021
We consider the Salop (1979) model of product differentiation and assume that consumers are uncertain about the qualities and prices of firms’ products. They can inspect all products at zero cost. A share of consumers is expectation-based loss averse. For these consumers, a purchase plan,...
Persistent link: https://www.econbiz.de/10012624849
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Competition and innovation in automobile markets
Ghosal, Vivek; Ni, Jiayao - 2015
Using data from the US automobile market, we empirically examine the link between competition and innovation … interesting market to examine the link between competition and innovation. We use firm-level time-series data over a long horizon … relationship is reasonably non-linear; (2) higher market-wide competition results in an increase in patenting, and the relationship …
Persistent link: https://www.econbiz.de/10011342391
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Salience, competition, and decoy goods
Herweg, Fabian; Müller, Daniel; Weinschenk, Philipp - 2016
competition by a competitive fringe that produces low quality. We show that the brand manufacturer optimally provides a decoy good …
Persistent link: https://www.econbiz.de/10011557863
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Do mergers among multimarket firms create value?
Linde, Sebastian; Siebert, Ralph - 2016
Merger value is frequently evaluated in single market contexts without considering possible gains stemming from firms' multimarket presence. This study concentrates on the question through which channels, and of which magnitude, mergers among multimarket firms create incremental value. We...
Persistent link: https://www.econbiz.de/10011549386