Over the past two decades, the financial services industry has experienced a significant increase in competition and internal rivalry. Driven by deregulation and advances in information technologies, many historical institutional distinctions among financial intermediaries have disappeared or...

We examine whether Chinese only child and child with siblings, having similar ability as well as similar risk and social preferences, differ in their selection into a competitive environment. Participants in a laboratory experiment solve a real task, first under a non-competitive piece rate and...

The Slovenian transition represents a slow but steady liberalization of constraints on competition. Using a unique longitudinal data set on all manufacturing firms in Slovenia over the period 1994-2001, this study analyzes how firm efficiency changed in response to changing competitive...

We extend Bresnahan and Reiss’s (1991) model of local oligopoly to allow firm entry and exit over time.In our framework, entrants have to incur sunk costs in order to enter a market. After becomingincumbents, they disregard these entry costs in deciding whether to continue operating or to...