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It is well-known that there are no pure strategy Nash equilibria (PSNE) in the standard three-candidate spatial voting model when candidates maximize their share of the vote. When all that matters to the candidates is winning the election, however, we show that PSNE do exist. We provide a...
Persistent link: https://www.econbiz.de/10008462075
We propose a general model of monopolistic competition and derive a complete characterization of the market equilibrium based on an Arrow-Pratt measure of concavity of the utility, interpreted as the relative love for variety. When the relative love for variety increases with the consumption...
Persistent link: https://www.econbiz.de/10008466345
entry and financial development. Incumbents seek a low level of effective investor protection to prevent potential entrants … higher rents earned with less competition. Entry and investor protection improve when wealth distribution becomes less … countries we find that greater accountability is associated with higher entry in sectors that are more dependent on external …
Persistent link: https://www.econbiz.de/10005662100
Frequently, aspiring entrants have only limited information about their potential rivals’ entry decisions. As a result …, the outcome of the entry game may be that more firms enter than the market can sustain; or, at least, that unnecessary … entry investments are made. We refer to these outcomes as ‘entry mistakes’. We consider two models of non-coordinated entry …
Persistent link: https://www.econbiz.de/10005662244
We investigate the timing and the valuation of strategic investment aimed at enhancing entry opportunities in related … market segments. As demand is uncertain, entry options should be exercised at the optimal time, trading off the market share … gain against the option to wait until more information is revealed, while anticipating competitors' entry behaviour. When …
Persistent link: https://www.econbiz.de/10005662306
The health care professions in Europe have been subject to substantial entry and conduct regulation. Most notably … competition through geographic entry restrictions. We develop an entry model to study the direct impact of the regulations on the … representative for many other countries with geographic entry restrictions. We find that the entry decisions of pharmacies and …
Persistent link: https://www.econbiz.de/10005662356
of party competition under proportional and plurality rule. Entry is allowed and incumbent parties act as Stackelberg … leaders vis-à-vis potential entrants. The analysis highlights the interaction between entry barriers and the type of emerging … issue in determining when and how a new issue will be introduced. The theory explains both internal (that is, without entry …
Persistent link: https://www.econbiz.de/10005666941
with noise traders. The presence of noise traders can lead to multiple equilibria in the foreign exchange market. The entry …
Persistent link: https://www.econbiz.de/10005666966
incentives for relatively low-cost firms to enter the market, and thus improves the efficiency of the entry process. The … among firms, the proportion of high-cost firms, the cost of restructuring, and entry costs for new firms. …
Persistent link: https://www.econbiz.de/10005667044
substantial positive effect of deregulation on net entry and small business employment and no effect on pollution and public …
Persistent link: https://www.econbiz.de/10005667109