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-horizon, discrete-time game. Our goal is to identify the Markov perfect stationary equilibria where the seller can maintain his monopoly … power. We establish that the set of parameters supporting a monopoly outcome is larger when the seller offers different …
Persistent link: https://www.econbiz.de/10012431895
An entrepreneur shares business risk with the investors providing capital for her firm. Risk sharing is per se beneficial, but also results in an agency problem from diminished incentives for the entrepreneur. This classical trade-off depends on the financial contracting between the entrepreneur...
Persistent link: https://www.econbiz.de/10015100917
We study consumer surplus in a single market when (a) there is a lower bound in the consumption of the outside good and (b) the weights in the social welfare function given to consumers and firms are different. We assume quasilinear utility. When the lower bound constraint on the consumption of...
Persistent link: https://www.econbiz.de/10013459931
This study constructs a successive Cournot model to investigate the possibility that a separated upstream input supplier can solely sell the intermediate good to a separated downstream manufacturer through an exclusive contract in the presence of a vertically integrated rival. We find that the...
Persistent link: https://www.econbiz.de/10014369528
The paper studies the use of emission taxes and feed-in subsidies for the regulation of a monopoly that can produce the … the regulator and the monopoly with the regulator acting as the leader of the game. We find that the second-best tax rate …
Persistent link: https://www.econbiz.de/10012589030
The constitutional conception of market integration within the European Union entails creating a level playing field for competition in the consolidated banking sector. The financial crisis of 2008 brought with it the need to proceed with care as it rolled back the gains of improving competitive...
Persistent link: https://www.econbiz.de/10012817790
This paper considers a delegation game between one multi-input firm and one single-input firm engaging in Cournot competition in the downstream market. Both firms purchase a standard input from a core input supplier, and the multi-input firm also needs a supplementary input provided by an...
Persistent link: https://www.econbiz.de/10015339102
downstream monopoly and an upstream duopoly, where manufacturers produce differentiated products and can gain proficiency through …
Persistent link: https://www.econbiz.de/10014636240
) Competition increases the chances of using crowdfunding compared to the monopoly case; (5) A non-monotonic relationship exists …
Persistent link: https://www.econbiz.de/10012174171
Limitations on or total prohibition of usury (or interest) have been a pervasive theme across religions and ancient societies. Since medieval times, two major institutional changes relating to non-performance of debt contracts have taken place, namely, the abolition of slavery and the evolution...
Persistent link: https://www.econbiz.de/10014513972