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Entry, Exit, and the Determinants of Market Structure
Dunne, Timothy - 2009
Market structure is determined by the entry and exit decisions of individual producers. These decisions are driven by expectations of future profits which, in turn, depend on the nature of competition within the market. In this paper we estimate a dynamic, structural model of entry and exit in...
Persistent link: https://www.econbiz.de/10012463337
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Allocative Efficiency, Mark-ups, and the Welfare Gains from Trade
Holmes, Thomas J. - 2013
determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international trade, decomposing …
Persistent link: https://www.econbiz.de/10012459387
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Keeping it Fresh : Strategic Product Redesigns and Welfare
Blonigen, Bruce A. - 2013
and exit decisions in a dynamic oligopoly model (a la Bajari et al (2007)) and use it to analyse redesign activity in the …
Persistent link: https://www.econbiz.de/10012459665
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Individual Preferences, Organization, and Competition in a Model of R&D Incentive Provision
Lacetera, Nicola - 2011
Understanding the organization of R&D activities requires the simultaneous consideration of scientific workers' talent and tastes, companies' organizational choices, and the characteristics of the relevant industry. We develop a model of the provision of incentives to corporate scientists, in an...
Persistent link: https://www.econbiz.de/10012461628
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Who Should Pay for Credit Ratings and How?
Kashyap, Anil K. - 2013
We analyze a model where investors use a credit rating to decide whether to finance a firm. The rating quality depends on unobservable effort exerted by a credit rating agency (CRA). We study optimal compensation schemes for the CRA when a planner, the firm, or investors order the rating. Rating...
Persistent link: https://www.econbiz.de/10012459738
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Does Product Market Competition Reduce Agency Costs?
Jagannathan, Ravi - 2000
competitive industries, the negative relation between past returns and current leverage will be attenuated. Theory suggests that …
Persistent link: https://www.econbiz.de/10012471296
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Seeking Alpha : Excess Risk Taking and Competition for Managerial Talent
Acharya, Viral V. - 2013
We present a model in which managers are risk-averse and firms compete for scarce managerial talent ("alpha"). When … managers are not mobile across firms, firms provide efficient compensation, which allows for learning about managerial talent … and for insurance of low-quality managers. When instead managers can move across firms, firms cannot offer co …
Persistent link: https://www.econbiz.de/10012459770
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Auctions with Endogenous Valuations, The Snowball Effect Revisited
Krishna, Kala - 1990
In most of the literature on auctions the valuations of agents are exogenously specified. This assumption may be inappropriate in a number of cases where valuations are better derived endogenously. Endogenous valuations are appropriate when there are many units being auctioned and their value is...
Persistent link: https://www.econbiz.de/10012475544
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Competition and Efficiency in Congested Markets
Acemoglu, Daron - 2005
We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of …
Persistent link: https://www.econbiz.de/10012467484
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Quantifying Market Power and Business Dynamism in the Macroeconomy
De Loecker, Jan; Eeckhout, Jan; Mongey, Simon - National Bureau of Economic Research - 2021
We propose a general equilibrium economy with oligopolistic output markets in which two channels can cause a change in market power: (i) technology, via changes to productivity shocks and the cost of entry, (ii) market structure, via changes to the number of potential competitors. First, we...
Persistent link: https://www.econbiz.de/10012533310