Improving retailers' incentives for service is a prominent efficiency defense for resale price maintenance (RPM). We investigate the incentives of symmetric manufacturers to use RPM when selling products through common retailers who provide services such as pre-sale advice. We show that the...

Kürzlich hat Chr. Mantzavinos ein neues Wettbewerbsleitbild vorgeschlagen, das auf Ergebnissen der Neuen Institutionenökonomik und der Evolutorischen Ökonomik aufbaut. Er kritisiert die gängigen normativen Konzeptionen in der Wettbewerbspolitik, insbesondere die Idee des Wettbewerbs als...

This paper considers incentives for information acquisition ahead of conflicts. First, we characterize the (unique) equilibrium of the all-pay auction between two players with one-sided asymmetric information where one player has private information about his valuation. Then, we use ou rresults...

We consider an economy in which firms need to invest in capital before they can advertise a job, while applicants may have to compete for jobs. Our aim is to investigate how this competition affects the investment decisions of firms. Our first result shows that the economy always generates the...

I study the incentives of oligopolists to acquire and disclose information on a common demand intercept. Since firms may fail to acquire information even when they invest in information acquisition, firms can credibly conceal unfavorable news while disclosing favorable news. Firms may earn...

Advertisements provide consumers with knowledge about private products, whereas political information is required to provide voters with knowledge of public issues. Modern information technologies and globalization are increasing the exposure of individuals to information. Goods advertising is...

Advertisements provide consumers with knowledge about private products, whereas political information is required to provide voters with knowledge of public issues. Modern information technologies and globalisation are increasing the exposure of individuals to information. Goods advertising is...

Agents compete to acquire a limited economic opportunity of uncertain profitability. Each agent decides how much he acquires public signals before making investment under fear of preemption. I show that equilibria have various levels of efficiency under mild competition. The effect of...

Candidates compete to persuade a decision maker. The decision maker wishes to select a candidate who possesses a certain ability. Then, as a signaling, each candidate decides whether to perform a task whose performance statistically reflects the ability. However, since the cost of the...

Advertisements provide consumers with knowledge about private products, whereas political information is required to provide voters with knowledge of public issues. Modern information technologies and globalisation are increasing the exposure of individuals to information. Goods advertising is...