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This paper presents a trade model with capital and labor as factors of production. The main contribution of this paper is that it considers a new type of firm heterogeneity, which is empirically relevant: firms in this paper differ with respect to their factor shares in production. Therefore,...
Persistent link: https://www.econbiz.de/10011377609
We investigate the valuation of platform investment, such as asoftware operating system or anInternet portal WebPage. Platform investment is the creation of aninnovative distribution andproduction infrastructure, which increases access to customers; as aresult it reduces entry costs inrelated...
Persistent link: https://www.econbiz.de/10011304383
The paper revisits the problem of wage bargaining between a firm and multiple workers. We show that the Subgame Perfect Equilibrium of the extensive-form game proposed by Stole and Zwiebel (1996a) does not imply a profile of wages and profits that coincides with the Shapley values as claimed in...
Persistent link: https://www.econbiz.de/10011327338
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intervention affects the supply of productive inputs by management. We show that both the advantage and the disadvantage of public … a firm's shareholder base. This exposes management to uncertainty regarding the identity of future shareholders and … their extent of intervention in management decisions and in turn curtails managerial incentives. By contrast, because of its …
Persistent link: https://www.econbiz.de/10011348720
estimating manager and match qualities for management pairings in Major League Baseball (MLB). We document the economic …
Persistent link: https://www.econbiz.de/10011339152
, Marketing, Management, and Psychology, and discusses some research that is related to the seven disciplines. Academics could …
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