This paper argues that firms use 'IP-for-IP' policies such as cross-licensing to strategically restrict transactions in the market for technology. The commitment to limit trade to reciprocal exchange (barter instead of cash transactions) enables firms to alter the allocation of R&D and soften...

This paper analyzes the influence Leveraged Buyouts (LBOs) have on the operating performance of the LBO target companies' direct competitors. A unique and hand-collected data set on LBOs in the United States in the period 1985-2009 allows us to analyze the effects different restructuring...

We investigate the incentives for vertical or horizontal integration in the financial security service industry, consisting of trading, clearing and settlement. We thereby focus on firms’ decisions but also look on the implications of these decisions on competition and welfare. Our analysis...

We investigate the incentives for vertical and horizontal integration in the financial securities service industry. Our analysis shows that the incentives for vertical integration depend on industry characteristics revealing, for example, that incentives increase in the demand for liquidity....

This paper analyzes the influence Leveraged Buyouts (LBOs) have on the operating performance of the LBO target companies' direct competitors. A unique and hand-collected data set on LBOs in the United States in the period 1985-2009 allows us to analyze the effects different restructuring...

We analyze competition among clubs in which the status of club members is the crucial added value accruing to fellow club members through social interaction within the club (e.g. in country clubs, academic faculties, or internet communities). In the course of competition for new members, clubs...