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Brunnermeier, Markus K. - 2013

Financial institutions may be vulnerable to predatory short selling. When the stock of a financial institution is shorted aggressively, leverage constraints imposed by short-term creditors can force the institution to liquidate long-term investments at fire sale prices. For financial...

Persistent link: https://www.econbiz.de/10013074650

Price Cutting and Business Stealing in Imperfect Cartels

Bernheim, B. Douglas - 2014

Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...

Persistent link: https://www.econbiz.de/10013056583

Predation and its Rate of Return : The Sugar Industry, 1887-1914

Genesove, David; Mullin, Wallace P. - 2021

We study entry into the American sugar refining industry before World War I. We show that the price wars following two major entry episodes were predatory. Our proof is twofold: by direct comparison of price to marginal cost, and by construction of predicted competitive price cost margins that...

Persistent link: https://www.econbiz.de/10013221947

Entry and Predation : British Shipping Cartels 1879-1929

Scott Morton, Fiona M. - 2021

I examine the outcomes of cases of entry by merchant shipping lines into established markets around the turn of the century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines. The cartel makes the decision whether or not to begin...

Persistent link: https://www.econbiz.de/10013222218

Some Economic Aspects of Antitrust Analysis in Dynamically Competitive Industries

Schmalensee, Richard; Evans, David S. - 2021

-run market power, for instance, but ignoring their vulnerability to drastic innovation may yield misleading conclusions … winner-take-all industries. Finally, innovation in dynamically competitive industries often involves enhancing feature sets …

Persistent link: https://www.econbiz.de/10013248676

Predation and Accumulation

Grossman, Herschel I.; Kim, Minseong - 2021

This paper incorporates the economic theory of predation into the theory of economic growth. The analytical framework is a dynamic general-equilibrium model of the interaction between two dynasties, one of which is a potential predator and the other is its prey. Each generation of each dynasty...

Persistent link: https://www.econbiz.de/10013246277

Innovation and Foreign Ownership

Guadalupe, Maria - 2010

product and process innovation (simultaneously adopting new machines and organizational practices) and adopt foreign … technologies, leading to higher productivity. We propose a model of endogenous selection and innovation in heterogeneous firms that … jointly explains the observed selection process and the innovation decisions. Further, we show in the data that innovation on …

Persistent link: https://www.econbiz.de/10013135408

Innovation by Entrants and Incumbents

Acemoglu, Daron - 2010

We extend the basic Schumpeterian endogenous growth model by allowing incumbents to undertake innovations to improve their products, while entrants engage in more "radical" innovations to replace incumbents. Our model provides a tractable framework for the analysis of growth driven by both entry...

Persistent link: https://www.econbiz.de/10013137600

Innovation and Welfare : Results from Joint Estimation of Production and Demand Functions

Jaumandreu, Jordi - 2010

that the total current period (static) welfare gains of introducing a process or a product innovation are, on average …

Persistent link: https://www.econbiz.de/10013139891

On the Timing and Efficiency of Creative Destruction

Caballero, Ricardo J. - 2010

process innovation. There are strong reasons why an efficient economy ought to concentrate both job creation and destruction …

Persistent link: https://www.econbiz.de/10013139984

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