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Delegation and Limited Liability in a Modern Capitalistic Economy
Shinkai, Tetsuya; Ohkawa, Takao; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012
We examine an effect of limited liability on strategic delegation in a Cournot duopoly with demand uncertainty. We establish that owners of each firm always delegate their tasks, decisions, and responsibility to a manager under limited liability, while they do not always do so under unlimited...
Persistent link: https://www.econbiz.de/10010540937
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Sales-Maximization vs. Profit-Maximization: Managerial Behavior at Japanese Regional Banks 1980-2009
Harimaya, Kozo; Ohkawa, Takao; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012
In this paper, we analyze the managerial behavior of firms by estimating a nested objective function consistent with the framework of Fershtman and Judd (1987). Using data for Japanese regional banks for FY 1980-FY 2009, we focus on oligopolistic behavior in the domestic loan market and examine...
Persistent link: https://www.econbiz.de/10010902086
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Growth effects of non proprietary innovation
Saint-Paul, Gilles - 2002
by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it …
Persistent link: https://www.econbiz.de/10011409970
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Local search markets and external competition
Legros, Patrick; Stahl, Konrad - 2019
crowds out local variety. Under local monopoly, local buyer surplus co-moves with external buyer surplus. Under local free … surplus is better provided by local monopoly. …
Persistent link: https://www.econbiz.de/10012026420
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Perfect competition, market power, and contestability
Budzinski, Oliver; Stöhr, Annika - 2024
distinguishable types. This contribution explains absolute market power (single-firm monopoly and dominance), collective market power … market entries to discipline the behavior of powerful incumbents on monopoly or dominance markets. Recently, contestability …
Persistent link: https://www.econbiz.de/10014536299
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Two-part tariff competition in duopoly
Yin, Xiangkang - Department of Economics and Finance, La Trobe Business … - 2000
monopoly because each duopolist has a smaller market size than the monopolist. But social welfare in the monopoly is lower than …
Persistent link: https://www.econbiz.de/10008867255
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The monopoly benchmark on two-sided markets
Mueller, Christopher; Boehme, Enrico - Volkswirtschaftliche Fakultät, … - 2011
all platforms or a “pure” monopoly with just one platform. Literature has not generally discussed, which benchmark is the …
Persistent link: https://www.econbiz.de/10009372469
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Taxation and market power
Konrad, Kai A.; Morath, Florian; Müller, Wieland - Wissenschaftszentrum Berlin für Sozialforschung (WZB) - 2010
We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find … consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share …
Persistent link: https://www.econbiz.de/10009397109
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The Economics of Network Neutrality
Economides, Nicholas; Hermalin, Benjamin - NET Institute - 2010
Pricing of Internet access has been characterized by two properties. Parties are directly billed only by the Internet Service Provider (ISP) through which they connect to the Internet and the ISP charges them on the basis of the amount of information transmitted rather than its content. These...
Persistent link: https://www.econbiz.de/10008763998
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Welfare-increasing third-degree price discrimination
Cowan, Simon GB - Department of Economics, Oxford University - 2013
The welfare and output effects of monopoly third-degree price discrimination are analyzed when inverse demand functions …
Persistent link: https://www.econbiz.de/10011004395