Narrow search
Showing 1 - 10 of 215
Cover Image
Investing in a Global World
Busse, Jeffrey A.; Goyal, Amit; Wahal, Sunil - National Centre of Competence in Research - Financial … - 2011
We examine active retail mutual funds and institutional products with a mandate to invest ininternational equity markets between 1991 and 2009. Using global and regional factor models,we find no reliable evidence of alphas in the aggregate or on average. The right tail of thedistribution...
Persistent link: https://www.econbiz.de/10009486829
Cover Image
What Drives Productivity Growth?
Stiroh, Kevin J. - Federal Reserve Bank <New York, NY> - 2001
[...]One important theme, common to both views, is thatinvestment is a fundamental part of the growth process.Investment … of human capital and research anddevelopment (R&D) expenditures are now routinely included inproductivity analyses … investment good since software code is adurable asset that contributes to production over several years.[...] …
Persistent link: https://www.econbiz.de/10005869899
Cover Image
Regulation in the Market for Education andOptimal Choice of Curriculum
Eisenkopf, Gerald; Wohlschlegel, Ansgar - Thurgauer Wirtschaftsinstitut <Kreuzlingen> - 2011
We analyze educational institutions’ incentives to set up demanding or lax curricula induopolistic markets for education with endogenous enrolment of students. We assume thatthere is a positive externality of student achievement on the local economy. Comparingthe case of regulated tuition fees...
Persistent link: https://www.econbiz.de/10009302671
Cover Image
Understanding Price Competition in German Motor Insurance
Eling, Martin; Luhnen, Michael - Institut für Versicherungswirtschaft <Sankt Gallen> - 2008
This paper analyzes price competition in the German motor insurance market since 1994 and looks for evidence to back up a claim frequently found in the trade literature—that there have been two recent price wars in this industry, the first in 1996–1999, the second in 2005–2006. In a first...
Persistent link: https://www.econbiz.de/10005861352
Cover Image
Satisficing and prior-free optimality in price competition:a theoretical and experimental analysis
Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
On a heterogeneous experimental oligopoly market, sellers choose a price,specify a set-valued prior-free conjecture about the others' behavior, andform their own profit-aspiration for each element of their conjecture. Weformally define the concepts of satisficing and prior-free optimality...
Persistent link: https://www.econbiz.de/10005866446
Cover Image
A note on price competitionin product differentiation models
Gabszewicz, Jean Jaskold - Center for Operations Research and Econometrics … - 2009
We define a two-variant model of product differentiation which, depending on the number of consumersprefering one variant to the other, provides equilibrium prices reflecting the natural valuation of thesevariants by the market....
Persistent link: https://www.econbiz.de/10005868502
Cover Image
Regulating quality by regulating quantity:a case against minimum quality standards
Boccard, Nicolas; Wauthy, Xavier - Center for Operations Research and Econometrics … - 2009
We show in a simple model of entry with sunk cost, that a regulator prefers limiting the output, orcapacity, of the incumbent firm rather than imposing a “Minimum Quality Standard” in order tohelp the entrant to provide high quality. As a by-product, our analysis makes a contribution to...
Persistent link: https://www.econbiz.de/10005868503
Cover Image
On the nature of price competitionunder universal service obligations: a note
Gautier, Axel; Wauthy, Xavier - Center for Operations Research and Econometrics … - 2009
The imposition of universal coverage and uniform pricing constraints, as part of the universalservice obligations, makes the universal service provider less aggressive in the price game when itcompetes with a firm that does not cover the whole set of markets (Valletti et al., 2002). In...
Persistent link: https://www.econbiz.de/10005868647
Cover Image
UNIONIZED LABOR MARKET ANDDIVISIONALIZATION
Mukherjee, Arijit; Broll, Udo; Mukherjee, Soma - University <Nottingham> / Department of Economics; … - 2006
We show the incentive for divisionalization by a monopolist producer. Incontrast to the previous literature, where divisionalization occurs for product marketadvantage, we show that divisionalization occurs if it provides strategic advantage inthe labor market. With unionized labor market, we...
Persistent link: https://www.econbiz.de/10005868662
Cover Image
Uncertain quality, product varietyand price competition
Gabszewicz, Jean Jaskold; Resende, Joana - Center for Operations Research and Econometrics …
This paper analyses price competition under product differentiation when goods are defined ina two dimensional characteristic space, and consumers do not know which firm sells whichquality. Equilibrium prices consist of two additive terms, which balance consumers' relativevaluation of goods'...
Persistent link: https://www.econbiz.de/10005868687