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A product market theory of worker training

Gersbach, Hans; Schmutzler, Armin - 2004 - revised: February 2004

We develop a product market theory that explains why firms invest in general training of their workers. We consider a … employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple …

Persistent link: https://www.econbiz.de/10011402873

A product market theory of worker training

Gersbach, Hans; Schmutzler, Armin - 2003

Persistent link: https://www.econbiz.de/10010315501

Weddings with uncertain prospects: Mergers under asymmetric information

Borek, Thomas; Buehler, Stefan; Schmutzler, Armin - 2004

We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms' types. We show that there is always a no-merger equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a cut-off equilibrium if the...

Persistent link: https://www.econbiz.de/10010315502

A product-market theory of industry-specific training

Gersbach, Hans; Schmutzler, Armin - 2006

We develop a product market theory that explains why firms provide their workers with skills that are sufficiently …-specific human capital, then make wage offers for each others' trained employees and finally engage in imperfect product market …

Persistent link: https://www.econbiz.de/10010315527

Mergers under asymmetric information - is there a lemons problem?

Borek, Thomas; Bühler, Stefan; Schmutzler, Armin - 2004

prediction of the lemons market model-if any, only low-type firms are traded-is likely to be misleading: Merger returns, i.e. the …

Persistent link: https://www.econbiz.de/10010315535

Globalization and general worker training

Gersbach, Hans; Schmutzler, Armin - 2004

replaced with a market with greater demand and greater firm number, training by each firm increases provided the two countries … systems are threatened by a large-scale integration of product markets. Contrary to product market integration, labor market …

Persistent link: https://www.econbiz.de/10010315570

All-Pay auctions with negative prize externalities: Theory and experimental evidence

Sacco, Dario; Schmutzler, Armin - 2008

The paper characterizes the mixed-strategy equilibria in all-pay auctions with endogenous prizes that depend positively on own effort and negatively on the effort of competitors. Such auctions arise naturally in the context of investment games, lobbying games, and promotion tournaments. We also...

Persistent link: https://www.econbiz.de/10010315592