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Competition, Risk and Managerial Incentives
Raith, Michael - 2001
This paper examines how the degree of competition among firms in an industry affects the optimal incentives that firms … changes in the nature of competition lead to changes in the equilibrium market structure. The main result is that as the … intensity of product market competition increases, principals unambiguously provide stronger incentives to their agents to …
Persistent link: https://www.econbiz.de/10014035986
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Uncertain demand, consumer loss aversion, and flat-rate tariffs
Herweg, Fabian - 2010
The so called flat-rate bias is a well documented phenomenon caused by consumers’ desire to be insured against fluctuations in their billing amounts. This paper shows that expectation-based loss aversion provides a formal explanation for this bias. We solve for the optimal two-part tariff when...
Persistent link: https://www.econbiz.de/10003987825
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Uncertain demand, consumer loss aversion, and flat-rate tariffs
Herweg, Fabian; Mierendorff, Konrad - 2011
The so called flat-rate bias is a well documented phenomenon caused by consumers; desire to be insured against fluctuations in their billing amounts. This paper shows that expectation-based loss aversion provides a formal explanation for this bias. We solve for the optimal two-part tariff when...
Persistent link: https://www.econbiz.de/10009236785
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Uncertain demand, consumer loss aversion, and flat-rate tariffs
Herweg, Fabian; Mierendorff, Konrad - 2011
We consider a model of firm pricing and consumer choice, where consumers are loss averse and uncertain about their future demand. Possibly, consumers in our model prefer a flat rate to a measured tariff, even though this choice does not minimize their expected billing amount - a behavior in line...
Persistent link: https://www.econbiz.de/10009739169
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Uncertain demand, consumer loss aversion, and flat-rate tariffs
Herweg, Fabian - 2010
The so called flat-rate bias is a well documented phenomenon caused by consumers' desire to be insured against fluctuations in their billing amounts. This paper shows that expectation-based loss aversion provides a formal explanation for this bias. We solve for the optimal two-part tariff when...
Persistent link: https://www.econbiz.de/10008822064
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The choice of prices vs. quantities under uncertainty
Reisinger, Markus; Reßner, Ludwig - 2007 - This Version: May 2007
variable that induces a smaller degree of competition. The reason is that demand uncertainty and the degree of substitutability …
Persistent link: https://www.econbiz.de/10010383028
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Does Cost Uncertainty in the Bertrand Model Soften Competition?
Lagerlöf, Johan N. M. - 2014
-good Bertrand model intensifies competition: it lowers price and raises total surplus (but also makes profits go up). For some … Hansen's results for the relationship between uncertainty and competition in the Bertrand model. Second, it shows that his … reinforces the notion that uncertainty intensifies competition rather than softens it …
Persistent link: https://www.econbiz.de/10013054742
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Nowcasting private consumption : traditional indicators, uncertainty measures, credit cards and some internet data
Gil, María; Pérez, Javier J.; Sánchez Fuentes, A. Jesús - 2018
Persistent link: https://www.econbiz.de/10011946875
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Uncertain Demand, Consumer Loss Aversion, and Flat-Rate Tariffs
Herweg, Fabian; Mierendorff, Konrad - 2011
We consider a model of firm pricing and consumer choice, where consumers are loss averse and uncertain about their future demand. Possibly, consumers in our model prefer a flat rate to a measured tariff, even though this choice does not minimize their expected billing amount - a behavior in line...
Persistent link: https://www.econbiz.de/10014184126
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Strategic Quality Choice Under Uncertainty : A Real Options Approach
Pawlina, Grzegorz; Kort, Peter M. - 2015
This paper studies the effects of demand uncertainty and imperfect competition on market entry and product quality …
Persistent link: https://www.econbiz.de/10014119621