I analyze, in the context of business and science research collaboration, how the characteristics of partnership agreements are the result of an optimal contract between partners. The final outcome depends on the structure governing the partnership, and on the informational problems towards the...

We present a simple model of spatial competition to analyse the impact of a structural change in transaction (transportation) costs on the location of firms.

This paper explores how costly price adjustment and strategic interaction may cause a leader-follower configuration to arise. While most imperfect models predict that price-setters will synchronize their moves, we show that leadership generates stable staggering.

This paper analyzes the strategic role of the temporal dimension of loan commitments in a model of competitive banks with imperfect competition in the borrower's industry.

We analyze the effects of uncertainty and private information on horizontal mergers. Firms face uncertain demands or costs and receive private signals. They may decide to merge sharing their private information. If the uncertainty parameters are independent and the signals are perfect,...

In this paper we study the optimal ex-ante merger policy in a model where merger proposals are the result of strategic bargaining among alternative candidates. We allow for firm asymmetries and, in particular, we emphasize the fact that potential synergies generated by a merger may vary...

In a micro-founded model, we derive novel incentives for a monopoly search engine to distort its organic and its sponsored results on searches for online content and offline products. Distorting organic results towards content publishers with less effective display advertising and/or distorting...