This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a …-dependent exit options for agents. In contrast to screening models with perfect competition, we find that existence of equilibria … that the efficiency of variable pay depends on the degree of competition for agents: For small degrees of competition, low …

I study the effect of increasing competition on financial performance through labour leverage. To capture competition …

We assume a fixed number of symmetric firms, competition in prices, constant returns to scale and frictionless consumer … substitution of quality for price is sharper for profit than for utility. In particular, profit also vanishes if utility equals the … sum of (negative) profit, and a surplus (eg, due to risk aversion). We pro- vide examples of economies where there exists …

This paper investigates labor and profit share trends across Advanced Economies. It shows that Real Estate is the … primary driver of declining labor shares outside the US. Excluding Real Estate, non-US labor and profit shares have remained … relatively stable since the 1970s. By contrast, the US labor share declined and the profit share increased across virtually all …

innovation intensity to escape competition. The U-shaped relation is more pronounced in industries where firms compete in …

the fundamental question: What is competition? Only in understanding competition can one understand what competition can … or cannot achieve under certain circumstances. This Article reexamines one premise of competition, namely the extent to … Article maps four scenarios of competition. Competition authorities should revisit their conception of competition, including …

countries is long overdue: the treatment of public policies that suppress competition. Whereas the European Union (“EU”) and … to enact laws that restrain competition. Further, individual groups are largely free to lobby for laws designed to erect … available to both public and private enforcers of the U.S. antitrust laws to challenge state-imposed restraints on competition …