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We consider takeover bidding in a Cournot oligopoly when firms have private information concerning the synergy effect of merging with a takeover target. Two auction rules are considered: standard first-price and profit-share auctions, supplemented by entry fees. Since non-merged firms benefit...
Persistent link: https://www.econbiz.de/10010333759
We consider takeover bidding in a Cournot oligopoly when firms have private information concerning the synergy effect of merging with a takeover target. Two auction rules are considered: standard first-price and profit-share auctions, supplemented by entry fees. Since non-merged firms benefit...
Persistent link: https://www.econbiz.de/10008685480
In the recent years several key industries in the CEE transition economies, such as food and beverage, once epitomised industrial supremacy have lost significant market shares to their foreign competitors, both at home and abroad. Recognising the fact that once pre-eminent world-wide economic...
Persistent link: https://www.econbiz.de/10005622662
own innovation. The analysis predicts that the willingness to enforce IPR is U-shaped in a country GDP: small … enforcement of IPR yields a higher level of innovation and global welfare only if the developing country does not innovate. A …
Persistent link: https://www.econbiz.de/10009764430
We study the gains from trade in a model with oligopolistic competition, heterogeneous firms and innovation, and … concentration contributes substantially to the gains from trade, mostly via its stimulating effect on innovation. Sizeable gains …
Persistent link: https://www.econbiz.de/10012507344
An innovative firm chooses strategically whether to patent its process innovation or rely on secrecy. By doing so, the … firm manages its rival's beliefs about the size of the innovation, and affects the incentives in the product market …
Persistent link: https://www.econbiz.de/10010267007
This paper studies the diffusion of a new technology that is brought to market while its potential is still uncertain. We consider a dynamic game in which firms improve both a new and a rival old technology while learning about the relative potential of both technologies. We use the model to...
Persistent link: https://www.econbiz.de/10005504449
An innovative firm with private information about its indivisible process innovation chooses strategically whether to … the size of the innovation, and affects the incentives in the product market. A Cournot competitor tends to patent big … substitutability increases the incentives to patent the innovation. …
Persistent link: https://www.econbiz.de/10010334114
firm is willing to pay for a process innovation that it would be the only one to use. We show that different measures of …
Persistent link: https://www.econbiz.de/10005043559
firm is willing to pay for a process innovation that it would be the only one to use. We show that different measures of …
Persistent link: https://www.econbiz.de/10004984752