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Delegation and Limited Liability in a Modern Capitalistic Economy

Shinkai, Tetsuya; Ohkawa, Takao; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012

We examine an effect of limited liability on strategic delegation in a Cournot duopoly with demand uncertainty. We establish that owners of each firm always delegate their tasks, decisions, and responsibility to a manager under limited liability, while they do not always do so under unlimited...

Persistent link: https://www.econbiz.de/10010540937

Sales-Maximization vs. Profit-Maximization: Managerial Behavior at Japanese Regional Banks 1980-2009

Harimaya, Kozo; Ohkawa, Takao; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012

In this paper, we analyze the managerial behavior of firms by estimating a nested objective function consistent with the framework of Fershtman and Judd (1987). Using data for Japanese regional banks for FY 1980-FY 2009, we focus on oligopolistic behavior in the domestic loan market and examine...

Persistent link: https://www.econbiz.de/10010902086

Pricing of Complementary Goods and Network Effects

Economides, Nicholas; Viard, Brian - EconWPA - 2004

We discuss the case of a monopolist of a base good in the presence of complementary goods provided either by it or by other firms. We assess and calibrate the extent of the influence on the profits from the base good that is created by the existence of complementary goods, i.e., the extent of...

Persistent link: https://www.econbiz.de/10005412872

Taxation and Market Power

Müller, Wieland; Konrad, K.A.; Morath, F. - Tilburg University, Center for Economic Research - 2010

We analyze the incidence and welfare e¤ects of unit sales taxes in experimental monopoly and Bertrand markets. We nd … consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share …

Persistent link: https://www.econbiz.de/10011090400

A few remarks on monopoly and monopsony

Labini, Paolo Sylos - In: Rivista Internazionale di Scienze Sociali 123 (2013) 3-4, pp. 387-404

Sylos Labini’s essay is devoted to the analysis of price determination under condition of monopoly and monopsony. The … problem of price indeterminacy in case of bilateral monopoly (associated with monopsony) is thoroughly discussed in relation … analysis of monopoly and monopsony to dismiss the ‘Classical’ argument that a perfect wage flexibility can bring about a full …

Persistent link: https://www.econbiz.de/10010786830

Paying not to sell

Bacchiega, E.; Bonroy, O.; Mabrouk, R. - Laboratoire d'Économie Appliquée de Grenoble, … - 2013

In this paper we show that, in the presence of buyer and seller power, a monopolist can enter into a costly contractual relationship with a low-quality supplier with the sole intention of improving its bargaining position relative to a high-quality supplier, without ever selling the good...

Persistent link: https://www.econbiz.de/10010904531

Network neutrality on the Internet: A two-sided market analysis

Economides, Nicholas; Tåg, Joacim - In: Information Economics and Policy 24 (2012) 2, pp. 91-104

increases the total surplus compared to the fully private optimum at which the monopoly platform imposes positive fees on …

Persistent link: https://www.econbiz.de/10011056742

Welfare-increasing third-degree price discrimination

Cowan, Simon GB - Department of Economics, Oxford University - 2013

The welfare and output effects of monopoly third-degree price discrimination are analyzed when inverse demand functions …

Persistent link: https://www.econbiz.de/10011004395

Monopoly Price Discrimination and Demand Curvature

Cowan, Simon; Vickers, John; Aguirre Pérez, Iñaki - Departamento de Fundamentos del Análisis Económico I, … - 2009

Published as an article in: American Economic Review, 2010, vol. 100, issue 4, pages 1601-15.

Persistent link: https://www.econbiz.de/10008556783

Joan Robinson Was Almost Right: Output under Third-Degree Price Discrimination

Aguirre Pérez, Iñaki - Departamento de Fundamentos del Análisis Económico I, … - 2009

In this paper, we show that in order for third-degree price discrimination to increase total output, the demands of the strong markets should be, as conjectured by Robinson (1933), more concave than the demands of the weak markets. By making the distinction between adjusted concavity of the...

Persistent link: https://www.econbiz.de/10008556785