In this paper, we examine how software vulnerabilities affect firms that license software and consumers that purchase … software. In particular, we model three decisions of the firm: (i) an upfront investment in the quality of the software to … software. We also model two decisions of the consumer: (i) whether to purchase the software; and (ii) whether to apply a patch. …

foreign and domestic competition, the consequences of soft budgets, and the role of managerial incentives and managerial human …

government regulation may reduce transaction costs, intensifying the competition associated with a given market structure, and we …

Using a new data set of the telecommunications sector on privatization (1981-98 for 167 countries) and competition … liberalization in the telecommunications sector. Building on the framework of a generalized private interest theory, we derive … less democratic countries. We find reasonably strong evidence in favour of the generalized interest group theory. Countries …

We investigate the effect of competition on quality in regulated markets (e.g., health care, higher education, public … drops to the minimum level in steady state, implying that quality competition is effectively eliminated. In this case …, static models tend to exaggerate the positive effect of competition on quality. Our results can explain the mixed empirical …

competition is shown to have a stimulating effect on growth. Indeed, by reducing the amount of slack a manager can afford while … keeping his firm alive, competition, combined with the threat of liquidation acts as a disciplinary device which fosters … this growth-enhancing effect of competition. …

competition is less intense, but perform substantially worse (are less likely to be admitted) when applying to very selective …