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Vacancies in supply chain networks
Hatfield, John William; Kominers, Scott Duke - In: Economics Letters 119 (2013) 3, pp. 354-357
supplier or end consumer has monotonic effects on the welfare of initial suppliers and end consumers but may simultaneously …
Persistent link: https://www.econbiz.de/10010664125
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Fictitious play property of the Nash demand game
In, Younghwan - In: Economics Letters 122 (2014) 3, pp. 408-412
We show that the Nash demand game has the fictitious play property. We also show that almost every fictitious play process and its associated belief path converge to a pure-strategy Nash equilibrium in the Nash demand game.
Persistent link: https://www.econbiz.de/10010743686
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Asymmetric partnerships
Figueroa, Nicolás; Skreta, Vasiliki - In: Economics Letters 115 (2012) 2, pp. 268-271
We study asymmetric partnerships and show that efficient dissolution is possible if critical types (where participation constraints bind) are equal. Ownership structures guaranteeing equal critical types always exist, but can be extremely unequal.
Persistent link: https://www.econbiz.de/10011041810
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Optimal investment policy with fixed adjustment costs and complete irreversibility
Roys, Nicolas - In: Economics Letters 124 (2014) 3, pp. 416-419
We develop and characterize analytically an investment model in discrete time with a fixed adjustment cost not … proportional to existing capital and complete irreversibility that reproduces the lumpiness of investment at the micro-level. In … agreement with the empirical evidence, as a firm size increases, investment becomes less lumpy. The optimal policy is of the …
Persistent link: https://www.econbiz.de/10010930713
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Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies
Guariglia, Alessandra; Tsoukalas, John; Tsoukas, Serafeim - In: Economics Letters 117 (2012) 3, pp. 582-584
exhibit high and significant investment-cash flow sensitivities. Our findings provide a new explanation for why some …
Persistent link: https://www.econbiz.de/10010594188
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Productivity with general indices of management and technical change
Triebs, T.P.; Kumbhakar, S.C. - In: Economics Letters 120 (2013) 1, pp. 18-22
We propose a model of production where technical change is both time and management induced. We define a general management index in addition to the general time index of Baltagi and Griffin (1988) and use them as arguments in the translog production function. Time and management induced...
Persistent link: https://www.econbiz.de/10010665684
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Influence in the Face of Impunity
Kritikos, Alexander S.; Tan, Jonathan H.W. - In: Economics Letters 141 (2016), pp. 119-121
We compare dictator and impunity games. In impunity games, responders can reject offers but to no payoff consequence to proposers. Because proposers act under impunity, we should expect the same behavior across games, but experimentally observed behavior varies. Responders indeed exercise the...
Persistent link: https://www.econbiz.de/10011687301
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Relaxing the substitutes condition in matching markets with contracts
Flanagan, Francis X. - In: Economics Letters 123 (2014) 2, pp. 113-117
In the many-to-one matching model with contracts, I provide new necessary and new sufficient conditions for the existence of a stable allocation. These new conditions exploit the fact that one side of the market has strict preferences over individual contracts.
Persistent link: https://www.econbiz.de/10010906356
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Optimal ownership of public goods reconsidered
Schmitz, Patrick W. - In: Economics Letters 125 (2014) 1, pp. 21-24
Consider a non-governmental organization (NGO) that can invest in a public good. Should the government or the NGO own the public project? In an incomplete contracting framework with split-the-difference bargaining, Besley and Ghatak (2001) argue that the party who values the public good most...
Persistent link: https://www.econbiz.de/10010939486
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The stability of many-to-many matching with max–min preferences
Jiao, Zhenhua; Tian, Guoqiang - In: Economics Letters 129 (2015) C, pp. 52-56
This paper investigates the two-sided many-to-many matching problem, where every agent has max–min preference. The equivalence between the pairwise-stability and the setwise-stability is obtained. It is shown that the pairwise-stability implies the strong corewise-stability and the former may...
Persistent link: https://www.econbiz.de/10011263446