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competition are sufficiently high, a negative risk premium arises that resolves over time with learning. The model generates price … competition are intense …
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This paper considers a market in which only the incumbent's quality is publicly known. The entrant's quality is observed by the incumbent and some fraction of informed consumers. This leads to price signalling rivalry between the duopolists, because the incumbent gains and the entrant loses when...
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One striking development associated with the explosion of e-commerce is the increased transparency of sellers' quality. In this paper we analyze how this affects firms' incentives to invest in quality when the outcome of investment is uncertain. We identify two conflicting effects. On the one...
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overlook is the effect on non-executive pay of the competition for talent. Even if executive pay is regulated, and executives …-executives due to the negative externality that arises from that competition. Greater risk-taking can increase short-term profits and … tension between compensation and competition. Regulators should take account of the effect of competition on market …
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contested places where competition, safety, and reliability meet. Yet, regulators and academics have largely overlooked the … risks Joint Pole Committees (JPCs) pose for energy and communications safety, service, competition, and regulation. This …, competition, and accountable governance at the forefront of utility regulation. This article lifts the veil over JPC practices …
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