We show that partially privatizing a public firm alters underlying conjectures, in turn, changing the optimal degree of privatization. The consistent conjectures equilibrium (CCE) generates substantially greater optimal privatization than does any conjecture shared between the firms including...

This paper analyzes a dynamic mixed duopoly in which a profit-maximizing competitor interacts with a competitor that prices at zero (or marginal cost), with the cumulation of output affecting their relative positions over time. The modeling effort is motivated by interactions between Linux, an...

We study a mixed oligopoly where a partially public firm competeswith a private firm. When the private firm offers managerialincentives, there is a redistribution of profit and output fromthe private to the public firm, but the aggregate output andsocial welfare may remain unchanged. When the...

This paper examines coalition-proof Nash equilibria (CPNE) of a mixed duopoly with price competition where the public firm meets all the demand coming to it. If the private firm is free to supply less than demand, then the unique CPNE involves the competitive price. If however the private firm...

We study a mixed oligopoly where a partially public firm competeswith a private firm. When the private firm offers managerialincentives, there is a redistribution of profit and output fromthe private to the public firm, but the aggregate output andsocial welfare may remain unchanged. When the...

This paper analyzes the effects of forward contracts and managerial incentive contracts, which are tools that firms can use to compete strategically with their rivals in an oligopolistic market. The results show that when the two firms produce a homogeneous good, can hire managers and trade...

Der Beitrag untersucht den physischen und digitalen Zugang zu Finanzdienstleistungen der öffentlich-rechtlichen Sparkassen in Deutschland, um zu beurteilen, ob die durch den Filialrückbau bewirkte reduzierte Präsenz in der Fläche durch digitale Angebote kompensiert werden kann. Die physische...

A well established belief both in the game-theoretic IO and in policy debates is that market concentration facilitates collusion. We show that this piece of conventional wisdom relies upon the assumption of profit-seeking behaviour, for it may be reversed when firms pursue other plausible goals....

Using panel data for nearly all service providers in a single industry sector, we examine productivity responses to changes in competition in the United States. The sector offers workplace employee representation through trade union branches which compete with one another for union members whose...