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Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2011

In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries entice...

Persistent link: https://www.econbiz.de/10008921773

Economic Integration and Investment Incentives in Regulated Industries

Auriol, Emmanuelle; Biancini, Sara - C.E.P.R. Discussion Papers - 2009

The paper studies the impact of market integration on investment incentives in non-competitive industries. It distinguishes between investment in transportation and production cost-reducing technologies. Each domestic firm is controlled by a national regulator in a common market made of two...

Persistent link: https://www.econbiz.de/10005012490

Government Outsourcing: Public Contracting with Private Monopoly

Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006

The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation … to regulation is proposed in which firms are free to enter the market and to choose their price and output levels … than traditional regulation where governments commit to both investment and operation cash-flows. This is especially …

Persistent link: https://www.econbiz.de/10005067470

Competition vs. Regulation in Mobile Telecommunications

Stennek, Johan; Tangerås, Thomas P. - C.E.P.R. Discussion Papers - 2007

This paper questions whether competition can replace sector-specific regulation of mobile telecommunications. We show …

Persistent link: https://www.econbiz.de/10005661431

Exclusive Quality - Why Exclusive Distribution May Benefit the TV Viewers

Stennek, Johan - C.E.P.R. Discussion Papers - 2007

Sports organizations, Hollywood studios and TV channels grant satellite and cable networks exclusive rights to televise their matches, movies and media contents. Exclusive distribution prevents viewers from watching attractive programs, and reduces the TV-distributors incentives to compete in...

Persistent link: https://www.econbiz.de/10005789055

Should Mergers Be Controlled?

Fridolfsson, Sven-Olof; Stennek, Johan - C.E.P.R. Discussion Papers - 2001

Anti-competitive mergers benefit competitors more than the merging firms. We show that such externalities reduce firms' incentives to merge (a hold-up mechanism). Firms delay merger proposals, thereby foregoing valuable profits and hoping other firms will merge instead - a war of attrition. The...

Persistent link: https://www.econbiz.de/10005788894

Industry Concentration and Welfare - On the Use of Stock Market Evidence from Horizontal Mergers

Fridolfsson, Sven-Olof; Stennek, Johan - C.E.P.R. Discussion Papers - 2006

There is diverging empirical evidence on the competitive effects of horizontal mergers: consumer prices (and thus presumably competitors' profits) often rise while competitors' share prices fall. Our model of endogenous mergers provides a possible reconciliation. It is demonstrated that...

Persistent link: https://www.econbiz.de/10005497962

Public Procurement and Rent-Seeking: The Case of Paraguay

Auriol, Emmanuelle; Flochel, Thomas; Straub, Stéphane - C.E.P.R. Discussion Papers - 2011

A model of entrepreneurial choices in an economy with a corrupt public procurement sector is built, providing predictions along two main dimensions. First, corruption is more frequent in sectors where public institutions are large buyers. Second, firms favoured with corrupt contracts enjoy extra...

Persistent link: https://www.econbiz.de/10008865969

Sale of Visas: A Smuggler's Final Song?

Auriol, Emmanuelle; Mesnard, Alice - C.E.P.R. Discussion Papers - 2012

We study how smugglers respond to different types of migration policies - legalisation through the sale of migration visas, or more traditional repressive policies through borders' enforcement, employers' sanctions or deportation - by changing the price they propose to illegal migrants. In this...

Persistent link: https://www.econbiz.de/10011083587

The Insiders' Dilemma: An Experiment on Merger Formation

Lindqvist, Tobias; Stennek, Johan - C.E.P.R. Discussion Papers - 2005

This paper tests the insiders’ dilemma hypothesis in a laboratory experiment. The insiders’ dilemma means that a profitable merger does not occur, because it is even more profitable for each firm to unilaterally stand as an outsider (Stigler, 1950; Kamien and Zang, 1990 and 1993). The...

Persistent link: https://www.econbiz.de/10005789098