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empirical investigation of the risk taking behavior of mutual fund managers indicates that managerial risk taking crucially …, fund managers with a poor midyear performance tend to decrease risk relative to leading managers to prevent potential job … loss. When employment risk is low, compensation incentives become more relevant and fund managers with a poor midyear …
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neglected. We introduce them into a standard oligopoly model of horizontal merger by assuming an (empirically supported … ; involuntary unemployment ; efficiency defense ; oligopoly ; competition …
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neglected. We introduce them into a standard oligopoly model of horizontal merger by assuming an (empirically supported … ; involuntary unemployment ; efficiency defense ; oligopoly ; competition …
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We show that equilibrium involuntary unemployment emerges in a multi-stage game model where all market power resides with firms, on both the labour and the output market. Firms decide wages, employment, output and prices, and under constant returns there exists a continuum of subgame perfect...
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the oligopoly-produced commodity, and the country's ownership share of oligopolists also influence the effect. …
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