This paper examines both leadership choice and welfare consequences of privatisation in an endogenous timing mixed multi‐product oligopoly. It shows that a multi‐product firm undermines the welfare‐maximising efforts of a public firm by cross‐subsidising. The paper demonstrates that a...

Using panel data, we demonstrate a 50% increase in research productivity following a dramatic increase in the piece rate paid for articles by a major Chinese University. The increased productivity comes exclusively from those who were already research active