Showing 1 - 10 of 91
We demonstrate how suppliers can take strategic speculative positions in derivatives markets to soften competition in the spot market. In our game, suppliers first choose a portfolio of call options and then compete with supply functions. In equilibrium firms sell forward contracts and buy call...
Persistent link: https://www.econbiz.de/10010320360
We demonstrate how suppliers can take strategic speculative positions in derivatives markets to soften competition in the spot market. In our game, suppliers first choose a portfolio of call options and then compete with supply functions. In equilibrium firms sell forward contracts and buy call...
Persistent link: https://www.econbiz.de/10014181627
We study competition between political parties in repeated elections with probabilistic voting, allowing a multidimensional policy space and multiple political parties. This model entails multiple equilibria. When parties hold different opinions on some policy, they may take different policy...
Persistent link: https://www.econbiz.de/10012615461
This paper reports results from an experiment studying how fines, leniency programs and reward schemes for whistleblowers affect cartel formation and prices. Antitrust without leniency reduces cartel formation, but increases cartel prices: subjects use costly fines as (altruistic) punishments....
Persistent link: https://www.econbiz.de/10010320343
We study competition between political parties in repeated elections with probabilistic voting, allowing a multidimensional policy space and multiple political parties. This model entails multiple equilibria. When parties hold different opinions on some policy, they may take different policy...
Persistent link: https://www.econbiz.de/10013220898
An increasing reliance on solar and wind power has raised concern about system ability to consistently satisfy electricity demand. This paper examines countries' unilateral incentives to achieve supply security through capacity reserves and market integration in a multinational electricity...
Persistent link: https://www.econbiz.de/10011917038
As cities increasingly become centers of economic growth and innovation, there is a need to understand their inner workings and organization in greater detail. We use ge-coded firm-level panel data at the sub-city level to assess the long-standing question whether agglomeration economies derive...
Persistent link: https://www.econbiz.de/10011917043
We study the heterogeneity of family firms using registry data on all private firms in Sweden. We restrict our sample to firms with at least one employee, and we define a family firm as a firm where two or more individuals among the owners or the board of directors are related. We focus on the...
Persistent link: https://www.econbiz.de/10014542218
The paper answers two questions simultaneously. What is the effect of offshoring on firms' total factor productivity? What is the effect of offshoring on skill-biased technological change? We estimate a model of firm production that allows for the effect of offshoring on both total factor...
Persistent link: https://www.econbiz.de/10011442458
In this paper, we study a new channel to explain firms' price setting behavior. We propose that uncertainty about factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile prices set higher markups. We use the Bartik shift-share...
Persistent link: https://www.econbiz.de/10013329997