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Price competition and endogenous product choice in networks : evidence from the US airline industry
Bontemps, Christian; Gualdani, Cristina; Remmy, Kevin - 2023
We develop a two-stage game in which competing airlines first choose the networks of markets to serve in the first stage before competing in price in the second stage. Spillovers in entry decisions across markets are allowed, which accrue on the demand, marginal cost, and fixed cost sides. We...
Persistent link: https://www.econbiz.de/10014313556
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Consumer bankruptcy : a fresh start
Livshits, Igor (contributor); MacGee, James (contributor);  … - 2001 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001630800
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Consumer default with complete markets : default-based pricing and finite punishment
Mateos-Planas, Xavier; Seccia, Giulio - 2013
This paper studies economies with complete markets where there is positive default on consumer debt. In a simple tractable two-period model, households can default partially, at a finite punishment cost, and competitive intermediaries price loans of different sizes separately. This environment...
Persistent link: https://www.econbiz.de/10010210815
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A quantitative theory of the credit score
Chatterjee, Satyajit; Corbae, Dean; Dempsey, Kyle P.; … - 2020 - This draft: July 2020
Persistent link: https://www.econbiz.de/10012432298
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Reorganization or liquidation: bankruptcy choice and firm dynamics
Corbae, Dean; D'Erasmo, Pablo N. - 2020 - This Version: July 24, 2020
Persistent link: https://www.econbiz.de/10012432344
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The start-up decision under default risk
Comincioli, Nicola; Panteghini, Paolo; Vergalli, Sergio - 2021
This study introduces a real option model to investigate how fiscal policy affects a representative firm's investment decision and to measure its welfare effects. On the one hand, the effects of financial instability on the optimal investment timing and on the probability of default are studied....
Persistent link: https://www.econbiz.de/10012654165
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Forecasting distress in European SME portfolios
Michala, Dimitra; Grammatikos, Theoharry; Ferreira … - 2013
conditions and bankruptcy codes add predictive power to our models. Moreover, industry effects usually demonstrate significance …
Persistent link: https://www.econbiz.de/10011862221
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Endogenous debt maturity : liquidity risk vs. default risk
Manuelli, Rodolfo E.; Sanchez, Juan M. - 2018
Persistent link: https://www.econbiz.de/10011950510
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Bankruptcy choice with endogenous financial constraints
Tamayo, Cesar E. - 2017
-trivial choice between alternative bankruptcy procedures. Given limited commitment and asymmetric information, financial contracts … monitoring is too costly, renegotiation leads to reorganization, which resembles actual bankruptcy practice. We calibrate the … model to match certain aspects of the data on bankruptcy and firm dynamics in the United States. Our counterfactual …
Persistent link: https://www.econbiz.de/10011673284
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Business tax policy under default risk
Comincioli, Nicola; Vergalli, Sergio; Panteghini, Paolo - 2019
In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax...
Persistent link: https://www.econbiz.de/10012006573