on existing theories of competition in markets with adverse selection. …

have to compete for jobs. Our aim is to investigate how this competition affects the investment decisions of firms. Our … that never yield an efficient allocation. Moreover, our results extend the efficiency of auction mechanisms to an …

determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …

competition for principals or agents. While we do observe substantial and significant ratchet effects in the baseline (no … competition) case of our model, we find that ratchet behavior is nearly eliminated by labor-market competition; interestingly this …

, and international trade also raise firm efficiency in the industry. Results strongly confirm that market competition …The Slovenian transition represents a slow but steady liberalization of constraints on competition. Using a unique … longitudinal data set on all manufacturing firms in Slovenia over the period 1994-2001, this study analyzes how firm efficiency …

wage premium serves to achieve contract efficiency. For those weekly hours for which a premium is paid, worker compensation …