This paper reviews the growth of the online business-to-business marketplaces and proposes that intense competition between and among horizontal hubs and vertical exchanges will lead to consolidation. Financial collaborative trading networks (CTNs) would follow as a consequence. CTNs allow...

We will assess how governance and incentive problems contributed to Enron's rise and fall. A well-functioning capital market creates appropriate linkages of information, incentives, and governance between managers and investors. This process is supposed to be carried out through a network of...

The present paper develops a basic framework for evaluating and optimizing profits in a business operation. In developing a business we are often faced with an infinity of choices ranging from what products or services to sell and what customers to target to how to structure and manage the...

In many intermediate goods markets buyers and sellers both have market power. Contracts are usually long-term and negotiated bilaterally, codifying many elements in addition to price. We model such bilateral oligopolies as a set of simultaneous Rubinstein-Ståhl bargainings between pairs of...

Based on diverse research methods, we trace and map industrial economics research in Denmark, Norway and Sweden in the periode of 1880 to 1908. After describing this research in terms of key contributors, we argue that industrial economics developed rather unevenly in the Scandinavian countries....

When firms are better informed than their consumers---for example, in many service industries firms know more than their customers about the benefits of different alternatives---competitive pressure may inhibit efficiency because it forces firms to cater excessively to consumers' opinions. We...

One of the most basic principles in economics is that competitive pressure promotes efficiency. However, this pressure can also have a dark side because it makes firms reluctant to act on private information that is unpopular with consumers. As a result, firms that possess superior information...

It is usual to argue that the US antidumping code and legal practice have become a substitute for tariffs now severely limited by GATT and, somewhat like these displaced tariffs, they are intended to limit the extent of price competition by foreign sellers. However, there is one set of...

This study estimates a cost function for higher education in Australian universities using pooled series of cross-sectional data. The study enabled the quantification of the cost differences between levels of studies and subject areas. The resulting cost function is used to derive estimates of...