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Leniency Inflation, Cartel Damages and Criminalization

Marvão, Catarina M. P.; Spagnolo, Giancarlo - 2021

We revisit the pros and cons of cartel criminalization with focus on its possible introduction in the EU. We document a recent phenomenon that we name EU ``leniency inflation", whereby leniency has been increasingly awarded to many, and sometimes all members of a cartel. We argue that, coupled...

Persistent link: https://www.econbiz.de/10013221273

The Evolutionary Stability of Optimism, Pessimism, and Complete Ignorance

Schipper, Burkhard - 2020

We seek an evolutionary explanation for why in some situations humans maintain either optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of their environment. Players in strategic games face Knightian uncertainty about opponents' actions and maximize...

Persistent link: https://www.econbiz.de/10014032634

The evolutionary stability of optimism, pessimism and complete ignorance

Schipper, Burkhard - 2005

We provide an evolutionary foundation to evidence that in some situations humans maintain optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian uncertainty about opponents' actions and maximize...

Persistent link: https://www.econbiz.de/10010366542

Aktienkursorientierte Management-Entlohnung : ein Wettbewerbshemmnis im Boom?

Neubecker, Leslie - 2001

to explain changes in the intensity of competition over time. If demand is stochastic, managers can set higher collusive …

Persistent link: https://www.econbiz.de/10010404263

The Role of Consumer's Risk Aversion on Price Rigidity

Alves, Sergio Afonso Lago - 2006

. With regular broadly accepted assumptions on economic agents behavior, we show that firms' competition can lead to the …

Persistent link: https://www.econbiz.de/10012734827

A Study of Inaction in Investment Games Via the Early Exercise Premium Representation

Ruffino, Doriana - 2009

This paper examines strategic investment in the context of a duopolistic continuous-time real options game. Our contribution is twofold, economic and methodological. The former is the recognition that, under fixed costs of investment and time-to-build, the firm pays a fraction of the implicit...

Persistent link: https://www.econbiz.de/10012721572

Lumps and Clusters in Duopolistic Investment Games : An Early Exercise Premium Approach

Ruffino, Doriana - 2007

This paper investigates strategic investment policies in a duopolistic continuous-time real options game. Our contribution is twofold, economic and methodological. The former is the recognition that, under fixed costs of investment and time-to-build, a firm's exercise of its capital-replacement...

Persistent link: https://www.econbiz.de/10012731571

The evolutionary stability of optimism, pessimism, and complete ignorance

Schipper, Burkhard - 2019

We provide an evolutionary foundation to evidence that in some situations humans maintain either optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian uncertainty about opponents' actions and...

Persistent link: https://www.econbiz.de/10012101422

How Does Competition Affect Incentives for Market Research?

Ahmed, Rafayal; Shopp, Colin - 2021

price to demand. This benefit is decreasingin the level of market competition. Secondly, better information allowseach firm … ifthe other firm acquires better information. This benefit is inverseu-shaped in the level of competition. Based on which … competition. Given endogenous information acquisition decisions by firms, the effect of competition on consumer welfare is …

Persistent link: https://www.econbiz.de/10013217442

Investment incentives and electricity spot market design

Grimm, Veronika; Zoettl, Gregor - 2010

analysis to investment decisions of strategic firms that anticipate competition on many consecutive spot markets with … fluctuating (and possibly uncertain) demand. We study how the degree of spot market competition affects investment incentives and …

Persistent link: https://www.econbiz.de/10003981050