Showing 1 - 10 of 1,034
Explanations of unethical behavior often neglect the role of competition, as opposed to greed, in assuring its spread … activities by universities, this paper clarifies the role of competition in promoting censured conduct. When unethical behavior … cuts costs, competition drives down prices and entrepreneurs' incomes, and thereby reduces their willingness to pay for …
Persistent link: https://www.econbiz.de/10013218430
impact of product market competition on productivity. Using a newly available panel data on around ten thousand firms in … Japanese manufacturing for the years 1994-2000, I show that competition, as measured by lower level of industrial price …
Persistent link: https://www.econbiz.de/10013308643
The heavy-tailed distribution of firm sizes first discovered by Zipf (1949) is one of the best established empirical facts in economics. We show that it has strong implications for asset pricing. Due to the concentration of the market portfolio when the distribution of the capitalization of...
Persistent link: https://www.econbiz.de/10013156683
We study the importance of discretion in antitrust enforcement by analyzing the response of asset prices to the sudden accession of Theodore Roosevelt to the presidency. During McKinley's term in office the largest wave of merger activity in American history occurred, and his administration did...
Persistent link: https://www.econbiz.de/10012908167
We present estimates of 4 and 8 firm concentration ratios by industry and in weighted aggregate form for the manufacturing sector for Chinese enterprises for 2002 and 2007. These are then compared to available estimates for the same years and industrial classification for the US. These...
Persistent link: https://www.econbiz.de/10013058696
effects from "double marginalization" resulting from reduced competition among retailers. The imposition of exclusivity …
Persistent link: https://www.econbiz.de/10013216512
Merger policy is the most active area of U.S. antitrust policy. It is now widely believed that merger policy must move beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can fundamentally affect merger analysis in two ways....
Persistent link: https://www.econbiz.de/10013324630
taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price … reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in … that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration …
Persistent link: https://www.econbiz.de/10012757853
It is well known that new businesses are typically much smaller than their established industry competitors, and that this size gap closes slowly. We show that even in commodity-like product markets, these patterns do not reflect productivity gaps, but rather differences in demand-side...
Persistent link: https://www.econbiz.de/10013066598
-local firms. They therefore mostly buy locally, limiting firms' potential market size (and competition). We explore this …
Persistent link: https://www.econbiz.de/10012916894