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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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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
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A Tale of Two Networks : Common Ownership and Product Market Rivalry
Ederer, Florian; Pellegrino, Bruno - National Bureau of Economic Research - 2022
general equilibrium model with a hedonic demand system in which firms compete in a network game of oligopoly. Firms are …
Persistent link: https://www.econbiz.de/10013191098
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Voting Choice
Malenko, Andrey; Malenko, Nadya - National Bureau of Economic Research - 2023
Traditionally, fund managers cast votes on behalf of investors whose capital they manage. Recently, this system has … come under intense debate given the growing concentration of voting power among a few asset managers and disagreements over … environmental and social issues. Major fund managers now offer their investors a choice: delegate their votes to the fund or cast …
Persistent link: https://www.econbiz.de/10014337868
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Economics and Politics of Alternative Institutional Reforms
Caselli, Francesco - 2007
constraints on entry, but in addition it facilitates transfers of control of incumbent firms, from untalented to talented managers …
Persistent link: https://www.econbiz.de/10012465823
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Storable Votes and Agenda Order Control. Theory and Experiments
Casella, Alessandra - 2008
The paper studies a voting scheme where members of a committee voting sequentially on a known series of binary proposals are each granted a single extra bonus vote to cast as desired - a streamlined version of Storable Votes. When the order of the agenda is exogenous, a simple sufficient...
Persistent link: https://www.econbiz.de/10012464160
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Conflict and Deterrence under Strategic Risk
Chassang, Sylvain - 2008
We examine the mechanics of deterrence and intervention when fear is a motive for conflict. We contrast results obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk, where players have different assessments of their...
Persistent link: https://www.econbiz.de/10012464685
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Socially Optimal Coordination : Characterization and Policy Implications
Angeletos, George-Marios - 2006
In recent years there has been a growing interest in macro models with heterogeneity in information and complementarity in actions. These models deliver promising positive properties, such as heightened inertia and volatility. But they also raise important normative questions, such as whether...
Persistent link: https://www.econbiz.de/10012465884
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Trading on Sunspots
Jovanovic, Boyan - 2014
In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disasters. When the probability of a disaster is...
Persistent link: https://www.econbiz.de/10012457853