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structure, contestability, inter-industry competition, and institutional and macro economic conditions. This analysis provides …
Persistent link: https://www.econbiz.de/10005628013
This article examines recent market behaviour of EU airlines. After a short descrip- tion of the EU liberalization … process the article continues to analyze the network related cost characteristics of airlines in the deregulated U.S. domestic … internal market. Different developments in network restructuring of EU airlines are described, indicating the first steps …
Persistent link: https://www.econbiz.de/10010682365
In markets for experience or credence goods adverse selection can drive out higher quality products and services. This negative implication of asymmetric information about product quality for trading and welfare, poses the question of how such markets first originate. We consider a market in...
Persistent link: https://www.econbiz.de/10010584447
Since Akerlof's (1970) seminal paper the existence of adverse selection due to asymmetric information about quality is well-understood. Yet two questions remain. First, given the negative implications for trading and welfare, how do such markets come into existence? And second, why have many...
Persistent link: https://www.econbiz.de/10005036230
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...
Persistent link: https://www.econbiz.de/10009364451
In the course of another exercise (Johnson, Scrimgeour & Manning 2006) I compiled, with the help of CCMAU, a financial record of the crown research institutes from 1992 to 2005. In this paper I thought I would share with this audience some of the facts that emerged from the exercise and make...
Persistent link: https://www.econbiz.de/10009324369
the ways in which banks compete. Using cross-country data from surveys of firms and banks and a measure of contestability … very low levels of contestability an increase in contestability increases small firm use of bank finance, for most … observations of contestability in the sample, an increase in contestability produces the opposite result. This also holds for …
Persistent link: https://www.econbiz.de/10010863602
We consider the allocation of corporate control in a company with two large and a continuum of small shareholders. Control is determined in a shareholders' meeting, where the large shareholders submit competing proposals in order to attract the vote of small shareholders. The presence of...
Persistent link: https://www.econbiz.de/10011111771
Persistent link: https://www.econbiz.de/10008776308
Persistent link: https://www.econbiz.de/10008776433