This paper characterizes the conditions under which holdout (i.e. bargaining inefficiency) may, or may not be significant in a two-sided, one-buyer-many-seller model with complementarity. We address this problem in a very general setup with a bargaining protocol that is symmetric and allows for...

In this paper we examine pricing imperfections in software companies by analyzing the case of Microsoft, and we uncover the presence of pervasive dead-weight losses derived from the inability of the producer to achieve first degree price discrimination. Because the nature of software is such...

In standard auctions with symmetric, independent private value bidders resale creates a role for a speculator—a bidder who is commonly known to have no use value for the good on sale. For second-price and English auctions the efficient value-bidding equilibrium coexists with a continuum...

This study uses a multi-output multi-input Data Efficiency Analysis (DEA) to estimate the performance of all thirty-two participated football teams in the UEFA Champions League (CL) tournament 2005-06. The estimates are based on official match statistics from all 125 matches.

This paper aims to provide a general overview of the health care sector reform in Colombia, which introduced the market principles of competition into the sector functioning. Therefor, this article analyzes its antecedents, characteristics and consequences. Relying on the interpretation of the...

Although American business leaders do not like protectionism, more and more of them are concluding that too many countries are stacking the deck against American competitors. The severe recession of 1980-83 and its lingering effects in certain regions and business sectors; unemployment stuck at...

The Romanian financial market has passed in the last years through a large “maturating” and consolidation process which has created an unfinished architecture, harmonising step by step with the capital markets from European Union. One possible way to analyse the empirical characteristics of...

This study aims to investigate the efficiency in Thai financial sector after the financial crisis (1998 – 2004) by looking at the total factor productivity (TFP) growth. Furthermore, the study also investigate the efficiency in commercial bank sector, finance and securities company sector and...

This paper examines, through the use of plant-level data, whether R&D’s productivity impact is contingent on the distance of a plant’s productivity from the industry’s technological frontier. R&D is specified as an accumulated stock from R&D investments. We analyse the productivity effect...

In this article, the authors sought to study the efficiency of the staff costs and its reflection upon the main economic and financial indicators of a company. In the performed study, the application of the factor analysis models was made at the level of an industrial trading company the social...