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consumer welfare. The model consists of an investment stage with uncertain returns and subsequent quantity competition. The …
Persistent link: https://www.econbiz.de/10010352102
consumer welfare. The model consists of an investment stage with uncertain returns and subsequent quantity competition. The …
Persistent link: https://www.econbiz.de/10003860957
This paper explores the relationship between the intensity of competition in product markets and firms' incentives to …, allowing us to differentiate between several measures for the intensity of competition. We establish that more firms in the … industry (i.e., lower entry costs) reduce the crime rate. Furthermore, whether more intense competition due to the increased …
Persistent link: https://www.econbiz.de/10010187154
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other ways to strengthen media competition − such as increased polarization and prevention of collusion − critically depends … on whether media have commitment power; if not, they can worsen information transmission and voter welfare. …
Persistent link: https://www.econbiz.de/10012030647
Persistent link: https://www.econbiz.de/10011758147
Does self-governance, a hallmark of democratic societies, foster or erode norms of generalized cooperation? Does this effect persist, and if so, why? I investigate these questions using a natural experiment in Switzerland. In the middle-ages, the absence of an heir resulted in the extinction of...
Persistent link: https://www.econbiz.de/10012822061
This essay provides a game-theoretic, endogenous view of institutions, and then applies the idea to identify the sources of institutional trajectories of economic development in China, Japan, and Korea. It stylizes the Malthusian-phase of East Asian economies as peasant-based economies in which...
Persistent link: https://www.econbiz.de/10010397352