The ubiquitous process of digitization changes economic competition on markets in several ways and leads to the emergence of new business models. The increasing roles of digital platforms as well as data-driven markets represent two relevant examples. These developments challenge competition...

This article illustrates how the industrial organization of a banking system affects economic growth in a partially dollarized economy. I study a model where banking competition has some potentially good and some potentially bad effects for growth. I analyze how important they are quatitatively...

Summary The improved international tradability of services and the better protection of intellectual property rights - both of which have been results of the Uruguay Round - increase the international tradability of know-how. This paper investigates the economic impact of this. It is shown that...

Zusammenfassung Die Vielzahl neuerer Modelle zur Analyse potentieller Konkurrenz läßt sich in zwei Kategorien unterteilen, nämlich die Post-entry-Analyse und die Contestable-market-Theorie. Beide Ansätze, die fast zeitgleich gegen Ende der siebziger Jahre in Erscheinung traten, nehmen für...

Summary Does evolutionary theory help, for a theory of the firm, or, more widely, a theory of organization? In this paper I argue that it does, to some but also limited extent. Evolutionary theories of economies, and of culture, have acquired considerable following, but have also been subject to...

Abstract This article reports on the results of a case study that examines the characteristics of the transaction between a plastic producer firm and its supplier of steel injection mold in order to explore the possible effects of asset specificity on the firm�s choice of the transaction...

Abstract We propose a model of Bertrand competition in which consumers choose firms based on prices and qualities. Service quality depends on congestion, which is a function of capacity and output. We first present theoretical properties of the model. Next, we calibrate the model to the wireless...

This dissertation empirically studies demand complementarities in automobile purchases using newly collected Japanese household-level panel data, Keio Household Panel Survey. It is motivated by the observation that approximately one third of Japanese households own more than one automobile and...

I provide new evidence on the failure of the Q-theory. The Q-theory implies the state-by-state equivalence of stock and investment returns|a important implication of many asset pricing models. Using aggregate US data, I find there exists a realistic parameterization of the aggregate production...

Empirically, the conditional volatility of aggregate consumption growth varies over time. While many papers test the consumption CAPM based on realized consumption growth, little is known about how the time-variation of consumption growth volatility affects asset prices. We show that in a model...