Showing 1 - 10 of 16
Using a panel data of S&P 500 Index firms covering 1998-2004, this paper compares the determinants of lobbying expenditures and campaign contributions and estimates the returns to lobbying as assessed by the financial market. Lobbying depends more on managerial incentives and protection needs...
Persistent link: https://www.econbiz.de/10005459119
We present theoretical and empirical analyses of indirect network effects for a hardware market with vertically differentiated complementary goods. We demonstrate that the heretofore typical use of aggregate software counts can mis-measure the presence and/or magnitude of indirect network...
Persistent link: https://www.econbiz.de/10011096422
Copyright protection can be used to raise entry barriers by impairing the demand. When there is a complementary market in addition to the copyrighted goods market, the incumbent prefers stronger copyright protection than is needed to maximize the sales profit in the primary market. Although...
Persistent link: https://www.econbiz.de/10011113846
Using a panel data of S&P 500 Index firms covering 1998-2004, this paper compares the determinants of lobbying expenditures and campaign contributions and estimates the returns to lobbying as assessed by the financial market. Lobbying depends more on managerial incentives and protection needs...
Persistent link: https://www.econbiz.de/10011114536
Two-sided markets consist of platforms that need to bring both retail consumers and complementary goods producers on board to be successful. Consumer adoption of these platforms can often hinge on the presence and magnitude of indirect network effects — the positive feedback loop where a...
Persistent link: https://www.econbiz.de/10011117300
We study the information-gathering role of a startup accelerator and consider the accelerator's incentives to choose a portfolio size and disclose information about participating ventures. We show that in a rational-expectations equilibrium, the resultant portfolio size is smaller than the...
Persistent link: https://www.econbiz.de/10011117520
In network industries, we often observe frequent upgrades of existing products as well as delayed introductions of new products. In order to explain these contrasting phenomena, this paper examines a durable-good monopolist's incentive for R&D in- vestment in new product development in a market...
Persistent link: https://www.econbiz.de/10011191565
This study investigates the structure of optimal incentives in a stochastic environment and provides evidence for the use of self-enforcing relational contracts. We show theoretically that under relational contracting, firms can credibly promise chief executive officers (CEOs) larger bonuses in...
Persistent link: https://www.econbiz.de/10010781640
Copyright levies are used as a way of compensating rightholders for the private use made of their protected works. This paper builds a simple model of copyright levies and investigates welfare implications of the harmonization of levy rates. The result is that, when the policy-maker places...
Persistent link: https://www.econbiz.de/10010865707
type="main" <p>We study a model in which firms offer financial products to individuals, post prices for their products, and screen consumers who apply to purchase them. Any information obtained in the screening process may be traded to another firm selling related products. We show that firms'...</p>
Persistent link: https://www.econbiz.de/10011148009