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Executive Compensation, Strategic Competition, and Relative Performance Evaluation : Theory and Evidence

Aggarwal, Rajesh K. - 2010

We argue that strategic interactions between firms in an oligopoly can explain the puzzling lack of high-powered incentives in executive compensation contracts written by shareholders whose objective is to maximize the value of their shares. We derive the optimal compensation contracts for...

Persistent link: https://www.econbiz.de/10013135269

Why Tie a Product Consumers Do Not Use?

Carlton, Dennis W. - 2010

This paper provides a new explanation for tying that is not based on any of the standard explanations -- efficiency, price discrimination, and exclusion. Our analysis shows how a monopolist sometimes has an incentive to tie a complementary good to its monopolized good in order to transfer...

Persistent link: https://www.econbiz.de/10012759900

Strategic Trade Policy When Domestic Firms Compete Against Vertically Integrated Rivals

Rodrik, Dani; Yoon, Chang-Ho - 2021

This paper models the international competition between a domestic firm and its vertically integrated foreign rival. The domestic firm has the choice of developing its own production capability for an intermediate input, or of importing it from the foreign firm at a price set by the latter. In...

Persistent link: https://www.econbiz.de/10013222922

Strategic Information Disclosure : The Case of Multi-Attribute Products with Heterogeneous Consumers

Hotz, V. Joseph; Xiao, Mo - 2021

We examine the incentives for firms to voluntarily disclose otherwise private information about the quality attributes of their products. In particular, we focus on the case of differentiated products with multiple attributes and heterogeneous consumers. We show that there exist certain...

Persistent link: https://www.econbiz.de/10013247290

Market Segmentation and the Sources of Rents from Innovation : Personal Computers in the Late 1980'S

Bresnahan, Timothy; Stern, Scott; Trajtenberg, Manuel - 2021

This paper evaluates the sources of transitory market power in the market for personal computers (PCs) during the late 1980's. Our analysis is motivated by the coexistence of low entry barriers into the PC industry and high rates of innovative investment by a small number of PC manufacturers. We...

Persistent link: https://www.econbiz.de/10013245713

The Theory of Allocation and its Implications for Marketing and Industrial Structure

Carlton, Dennis W. - 2021

This paper identifies a cost of using the price system and from that develops a general theory of allocation. The … theory explains why a buyer's stochastic purchasing behavior matters to a seller. This leads to a theory of optimal customer … mix much akin to the theory of optimal portfolio composition. It is the job of a firm's marketing department to put …

Persistent link: https://www.econbiz.de/10013229126

Integrated Political Strategy

de Figueiredo, John M. - 2010

This paper reviews the literature on corporate political strategy and identifies a number of open research questions and streams for potential investigation. The paper develops a framework to explain why, when, and how a firm will pursue multi-forum political action as part of its non-market and...

Persistent link: https://www.econbiz.de/10013152560

A Disaggregate Equilibrium Model of the Tax Distortions Among Assets, Sectors, and Industries

Fullerton, Don - 2010

This paper encompasses multiple sources of inefficiency introduced by the U.S. tax system into a single general equilibrium model. Using disaggregate calculations of user cost, we measure interasset distortions from the differential taxation of many types of assets. Simultaneously, we model the...

Persistent link: https://www.econbiz.de/10012762941

Strategic Responses to Parallel Trade

Kyle, Margaret K. - 2021

This paper examines how pharmaceutical firms have responded to changes in intellectual property rights and trade barriers that legalized "parallel imports" within the European Union. The threat of arbitrage by parallel traders reduces the ability of firms to price discriminate across countries....

Persistent link: https://www.econbiz.de/10013224433

The Balance of Payments Adjustment Mechanism in a Rational Expectations Equilibrium

Clarida, Richard - 2021

This paper provides a choice theoretic, general equilibriumaccount of the balance of payments adjustment process and the determinationof national price levels in a world comprised of countries populated byrational households. Balance of payments adjustment dynaniics arise in theequilibrium of...

Persistent link: https://www.econbiz.de/10013231435

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