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Using a unique dataset of more than 140,000 manufacturing firms in Japan containing information on their suppliers and customers, this paper looks at the physical distances be- tween transaction partners to examine the localization of transaction relationships. We find the following. First,...
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The distance puzzle has been wildly discussed in the literature since Leamer and Levinsohn (1995) shed the light on it. This puzzle simply says that "the world is not getting smaller": distance still matters to account for trade. This is reflected in a decreasing distance of trade (DOT), or in a...
Persistent link: https://www.econbiz.de/10011575880
The present paper studies the modelling of inter-regional trade flows in the newly developed general equilibrium model of European Commission, Rhomolo. In contrast to international trade, usually, trade of goods and services between regions is not recorded statistically. As a result, no...
Persistent link: https://www.econbiz.de/10012172841
Non-controlling minority shareholdings in rivals (NCMS) lower the sustainability of collusion under a wide variety of circumstances. Nevertheless, NCMS are sometimes deemed to facilitate collusion, in particular if the level of NCMS is exogenous. The present paper endogenizes firms' choice of...
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behavior, at least one of these actors is always missing. By contrast, the present paper's oligopoly model includes all three …
Persistent link: https://www.econbiz.de/10012425162
We provide experimental evidence for the hypothesis that bounded rationality is an important element of the theory of … of perfect rationality (Maskin 2002). We test whether this mechanism is able to perfectly solve our experimental holdup …
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