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Democracies delegate substantial decision power to politicians. Using a model in which an incumbent can design, examine and implement public policies, we show that examination takes place in spite of, rather than thanks to, elections. Elections are needed as a carrot and a stick to motivate...
Persistent link: https://www.econbiz.de/10011334365
We develop a tractable theory to study the impact of biased media on election outcomes, voter turnout and welfare. News … released by media allows voters to infer the relative appeal of the two candidates, and the closeness of elections. In large … elections, the former determines the election outcome, whereas the latter drives voter turnout. With a single media outlet, a …
Persistent link: https://www.econbiz.de/10012030647
and an extensiv e use of social media play a key role in lowering the transaction costs in the dance industry. …
Persistent link: https://www.econbiz.de/10010384391
We study whether there is a racial bias in ratings of professional football players in Italian newspapers. We find that there is such a bias. Conditional on objective performance indicators black players receive a lower rating than non-black players. This is not a difference across the board but...
Persistent link: https://www.econbiz.de/10012595313
We develop a method to measure the intensity of competition between firms. Our method, which we call the Best Response Measure (BRM), is related to the conduct parameter method, but avoids the main problems associated with that method. The BRM relies on a very general framework and limited data...
Persistent link: https://www.econbiz.de/10011284843
This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is likely to play in the consolidation game. We propose that whether a firm assumes the role of rival consolidator, target, or passive observer depends on the position of the firm...
Persistent link: https://www.econbiz.de/10011372521
We develop a simple test to assess whether horizontal spillover effects from multinational to domestic firms are endogenous to the market structure generated by the entry of the same multinationals. In particular, we analyze the performance of a panel of 10,650 domestic and multinational firms...
Persistent link: https://www.econbiz.de/10011346463
This paper introduces the Werden-Froeb Index (WFI) to assist in evaluating merger-specific efficiencies in horizontal mergers. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices and quantities after the (full or partial) merger...
Persistent link: https://www.econbiz.de/10011349182
This paper examines the relationship between firm births and job creation in Great Britain. We use a new data set for 60 British regions, covering the whole of Great Britain, between 1980 and 1998. The central theme of the paper is that, with the exception of a recent paper by Audretsch and...
Persistent link: https://www.econbiz.de/10011326959
Persistent link: https://www.econbiz.de/10009724348