Substantial efforts have contributed to overcome the scarcity of research on hidden champions. Nevertheless, literature has yet missed to compile a comprehensive review. Drawing on the insights of 112 publications, four strands of literature could be distinguished to unravel the essence of...

We separately observe variable input expenditure and expenditure on fixed inputs in novel firm-level data covering the Belgian manufacturing sector over the last decades. This permits a deeper investigation of two potential drivers of the globally observed widening gap between firms' revenue and...

Dieser Beitrag thematisiert die ökonomische Macht von Unternehmen in Österreich und stellt die Frage, ob diese - wie auch in anderen OECD-Ländern - zugenommen hat. Konzeptuell wird eine neuartige Differenzierung zwischen ökonomischer und politischer Macht sowie zwischen Marktmacht im engeren...

The first of both short essays deals with two structural constraints that distinguish services markets from e.g. markets for manufacturing products. The 'nearness restriction' requires that producer and consumer of the service product are present on the same location. The 'non-storability...

Die deutsche Wirtschaft steht vor großen Herausforderungen. Neben Digitalisierung und Klimawandel wird im Zuge der COVID-19-Pandemie und des russischen Angriffs auf die Ukraine auch eine mögliche Deglobalisierung diskutiert. Diese Entwicklungen wirken sich nicht zuletzt auf bestehende...

Dieser Beitrag thematisiert die ökonomische Macht von Unternehmen in Österreich und stellt die Frage, ob diese - wie auch in anderen OECD-Ländern - zugenommen hat. Konzeptuell wird eine neuartige Differenzierung zwischen ökonomischer und politischer Macht sowie zwischen Marktmacht im engeren...

This paper theoretically analyzes the role of reference prices on competition and welfare in a context of a circular city model with free entry and reference prices, in which paying market prices above a reference negatively affects the utility of consumers. Agents interact in a three-stage...

We study the incentives of a streaming platform to bias consumption when products are vertically differentiated. The platform offers mixed bundles of content to monetize consumers' interest in variety and pays royalties to sellers based on the effective consumption of the content they produce....

Economic theorists have seldom discussed the social structures behind markets, even though market trading relies heavily on seller/buyer roles and personal relations among traders. This paper considers the structural basis of markets and proposes a layered approach which accommodates a wide...

We propose a theory of how market power affects wage inequality. We ask how goods and labor market power jointly affect the level of wages, the Skill Premium, and wage inequality. We then use detailed microdata from the US Census between 1997 and 2016 to estimate the parameters of labor supply,...