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We propose a theory of firm production that requires diverse inputs. We show that in a competitive labor market, firms …
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Competition is at the core of economics, being both a central concept of economic reasoning and a main prerequisite for economic action. Yet, the attempt of a clear definition of competition is challenging as the concept of competition has been used in different historical and disciplinary...
Persistent link: https://www.econbiz.de/10013242647
This paper introduces a framework to facilitate an interdisciplinary analysis of ‘competition’. While such an interdisciplinary analysis can be justified by referencing the various fields of social and economic life in which ‘competition’ is important, three challenges are found to...
Persistent link: https://www.econbiz.de/10013245146
Over the past three decades, platform competition—the competition between firms that facilitate transactions and govern interactions between two or more distinct user groups who are connected via an indirect network—has attracted significant interest from the fields of management and...
Persistent link: https://www.econbiz.de/10013245218
This paper introduces a framework to facilitate an interdisciplinary analysis of 'competition'. While such an interdisciplinary analysis can be justified by referencing the various fields of social and economic life in which 'competition' is important, three challenges are found to aggravate...
Persistent link: https://www.econbiz.de/10012392034
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This paper analyzes the design of innovation contests when the quality of an innovation depends on the research approach of the supplier, but the best approach is unknown. Diversity of approaches is desirable because it generates an option value. In our main model with two suppliers, the buyer...
Persistent link: https://www.econbiz.de/10011410264