This note describes the effects on human capital formation of rank-order tournaments offering identical prizes to a given share of the ranked contestants. This compensation scheme is thought to resemble the selection processes in different areas of the public administration, particularly in...

This book describes the history and current capabilities of Ethiopia’s leading industrial companies (agribusiness, manufacturing and construction), focusing on 50 key large and mid-size firms. The motivation for the study is to help with the expansion of economic capabilities in the country by...

What economic mechanisms underlie the polarisation of the world economy into the ‘high wage’ industrialised countries, and the less developed ‘low wage’ countries? Should we expect the two groups to converge over time, or to diverge? What economic mechanisms come into play as LDCs...

This book describes the history and current capabilities of Ethiopia’s leading industrial companies (agribusiness, manufacturing and construction), focusing on 50 key large and mid-size firms. The motivation for the study is to help with the expansion of economic capabilities in the country by...

This paper studies the incentives for firms competing in vertically differentiated markets to sign binding collusive agreements, as in the case of mergers and alliances. Empirical investigations show that firms involved in mergers and acquisitions revise prices and qualities as to maximize their...

Heterogeneous firms facing demand-induced price fluctuations imperfectly compete for heterogeneous workers. It is shown that unemployment may arise in equilibrium because of the combination of uncertainty on product price and mismatch between workers’ skills and firms’ job requirements.

The main purpose of this paper is to provide a detailed comparison of two types of oligopolistic competition: quantity competition (Cournot) and price competition (Bertrand) with or without Ford effect: strategic allowing for firm's impact on consumer's income. This is accomplished in a simple...