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A product market theory of worker training

Gersbach, Hans; Schmutzler, Armin - 2003

We develop a product market theory that explains why firms invest in general training of their workers. We consider a … employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple … equilibria can emerge. If competition is suffciently soft and trained workers are substitutes, firms may invest in non …

Persistent link: https://www.econbiz.de/10010315501

Weddings with uncertain prospects: Mergers under asymmetric information

Borek, Thomas; Buehler, Stefan; Schmutzler, Armin - 2004

We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms' types. We show that there is always a no-merger equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a cut-off equilibrium if the...

Persistent link: https://www.econbiz.de/10010315502

Partial identification of discrete counterfactual distributions with sequential update of information

Boes, Stefan - 2009

The credibility of standard instrumental variables assumptions is often under dispute. This paper imposes weak monotonicity in order to gain information on counterfactual outcomes, but avoids independence or exclusion restrictions. The outcome process is assumed to be sequentially ordered,...

Persistent link: https://www.econbiz.de/10010315505

Simulating WTP values from random-coefficient models

Rischatsch, Maurus - 2009

Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for...

Persistent link: https://www.econbiz.de/10010315509

Competitive screening in insurance markets with endogenous wealth heterogeneity

Netzer, Nick; Scheuer, Florian - 2009

We examine equilibria in competitive insurance markets with adverse selection when wealth differences arise endogenously from unobservable savings or labor supply decisions. The endogeneity of wealth implies that high risk individuals may ceteris paribus exhibit the lower marginal willingness to...

Persistent link: https://www.econbiz.de/10010315511

Switching costs, firm size, and market structure

Loertscher, Simon; Schneider, Yves - 2005

In many markets, homogenous goods and services are sold both by large global frms and small local frms. Surprisingly, the large frms charge, often substantially, higher prices. Examples include hotels, airlines, and coffee shops. This paper provides a parsimonious model that can account for...

Persistent link: https://www.econbiz.de/10010315515

Robust estimation of zero-inflated count models

Staub, Kevin E.; Winkelmann, Rainer - 2009

Applications of zero-inflated count data models have proliferated in empirical economic research. There is a downside to this development, as zero-inflated Poisson or zero-inflated Negative Binomial Maximum Likelihood estimators are not robust to misspecification. In contrast, simple Poisson...

Persistent link: https://www.econbiz.de/10010315516

Asymmetric vertical integration

Buehler, Stefan; Schmutzler, Armin - 2004

We examine vertical backward integration in a reducedform model of successive oligopolies. Our key findings are: (i) There may be asymmetric equilibria where some firms integrate and others remain separated, even if firms are symmetric initially; (ii) Efficient firms are more likely to integrate...

Persistent link: https://www.econbiz.de/10010315532

Strategic outsourcing revisited

Buehler, Stefan; Haucap, Justus - 2003

Tirole (1984) to characterize the different equilibria. We find that outsourcing generally softens competition in the final …

Persistent link: https://www.econbiz.de/10010315541

Nonparametric analysis of treatment effects in ordered response models

Boes, Stefan - 2007

This paper deals with the identification of treatment effects when the outcome variable is ordered. If outcomes are measured ordinally, previously developed methods to investigate the impact of an endogenous binary regressor on average outcomes cannot be applied as the expectation of an ordered...

Persistent link: https://www.econbiz.de/10010315542