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The Effect of Credit Market Competition on Lending Relationships

Petersen, Mitchell A. - 2000

This paper provides a simple model showing that the extent of competition in credit markets is important in determining the value of lending relationships. Creditors are more likely to finance credit constrained firms when credit markets are concentrated because it is easier for these creditors...

Persistent link: https://www.econbiz.de/10012788596

Inefficiencies from Metropolitan Political and Fiscal Decentralization : Failures of Tiebout Competition

Calabrese, Stephen - 2011

We examine the welfare effects of provision of local public goods in an empirically relevant setting using a multi-community model with mobile and heterogeneous households, and with flexible housing supplies. We characterize the first-best allocation and show efficiency can be implemented with...

Persistent link: https://www.econbiz.de/10013121991

Side Effects of Competition : The Role of Advertising and Promotion in Pharmaceutical Markets

David, Guy - 2011

The extent of pharmaceutical advertising and promotion can be characterized by a balancing act between profitable demand expansions and potentially unfavorable subsequent regulatory actions. However, this balance also depends on the nature of competition (e.g. monopoly versus oligopoly). In this...

Persistent link: https://www.econbiz.de/10013123314

Individual Preferences, Organization, and Competition in a Model of R&D Incentive Provision

Lacetera, Nicola - 2011

Understanding the organization of R&D activities requires the simultaneous consideration of scientific workers' talent and tastes, companies' organizational choices, and the characteristics of the relevant industry. We develop a model of the provision of incentives to corporate scientists, in an...

Persistent link: https://www.econbiz.de/10013125567

Freedom to Trade and the Competitive Process

Edlin, Aaron S. - 2011

. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …

Persistent link: https://www.econbiz.de/10013129134

A Theory of the Competitive Saving Motive

Du, Qingyuan - 2013

Motivated by recent empirical work, this paper formalizes a theory of competitive savings - an arms race in household …. Relative to the empirical work, the theory can clarify a number of important questions: What determines the strength of the … conditions under which aggregate savings would go up in response to a higher sex ratio? This theory can potentially help to …

Persistent link: https://www.econbiz.de/10013084728

Seeking Alpha : Excess Risk Taking and Competition for Managerial Talent

Acharya, Viral V. - 2013

We present a model in which managers are risk-averse and firms compete for scarce managerial talent ("alpha"). When managers are not mobile across firms, firms provide efficient compensation, which allows for learning about managerial talent and for insurance of low-quality managers. When...

Persistent link: https://www.econbiz.de/10013085052

Bidding for Brains : Intellectual Property Rights and the International Migration of Knowledge Workers

McAusland, Carol - 2014

We introduce international mobility of knowledge workers into a model of Nash equilibrium IPR policy choice among countries. We show that governments have incentives to use IPRs in a bidding war for global talent, resulting in Nash equilibrium IPRs that can be too high, rather than too low, from...

Persistent link: https://www.econbiz.de/10013070634

Risky Investments with Limited Commitment

Cooley, Thomas F. - 2013

Over the last three decades there has been a dramatic increase in the size of the financial sector and in the compensation of financial executives. This increase has been associated with greater risk-taking and the use of more complex financial instruments. Parallel to this trend, the...

Persistent link: https://www.econbiz.de/10013073564

Insurer Competition in Health Care Markets

Ho, Kate - 2013

The impact of insurer competition on welfare, negotiated provider prices, and premiums in the U.S. private health care industry is theoretically ambiguous. Reduced competition may increase the premiums charged by insurers and their payments made to hospitals. However, it may also strengthen...

Persistent link: https://www.econbiz.de/10013076578