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 … equilibria can emerge. If competition is sufficiently soft and trained workers are substitutes, firms may invest in non …

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 … equilibria can emerge. If competition is suffciently soft and trained workers are substitutes, firms may invest in non …

-enhancing worker training before Cournot competition takes place. When two separated product markets become integrated and are thus …

under vertical integration, though we also provide counter-examples. The introduction of downstream competition for the …

We apply the property rights theory of Grossman-Hart-Moore in the music industry and study the optimal allocation of …

induces a negative effect on the profits of both media outlets, and increases price competition. Furthermore, the newspaper … content, as the television channel gains market shares at the expense of the newspaper. …

that supranational competition can have very different consequences on the rent seeking behaviour of firms, depending on …