We analyze a constrained dictator game in which the dictator splits a pie which will be subsequently created through simultaneous investments by herself and the recipient. We consider two treatments by varying the maximum attainable size of the pie leading to either high or low investment...

Minderheitsbeteiligungen in der Zusammenschlusskontrolle stärker zu berücksichtigen, ist umstritten. Minderheitsbeteiligungen können wohlfahrtsschädigende Wirkungen haben, da sie die Wettbewerbsanreize desjenigen Unternehmens senken, das Anteile an einem seiner Konkurrenten hält. Wir...

We analyze a constrained dictator game in which the dictator splits a pie which will be subsequently created through simultaneous investments by herself and the recipient. We consider two treatments by varying the maximum attainable size of the pie leading to either high or low investment...

We analyze a constrained dictator game in which the dictator splits a pie which will be subsequently created through simultaneous investments by herself and the recipient. We consider two treatments by varying the maximum attainable size of the pie leading to either high or low investment...

Minderheitsbeteiligungen in der Zusammenschlusskontrolle stärker zu berücksichtigen, ist umstritten. Minderheitsbeteiligungen können wohlfahrtsschädigende Wirkungen haben, da sie die Wettbewerbsanreize desjenigen Unternehmens senken, das Anteile an einem seiner Konkurrenten hält. Wir...

We analyze the effects of synergies from horizontal mergers on managerial incentives. In contrast to synergies, efficiency gains resulting from managerial effort are not merger specific, i.e., they may be realized by all firms before and after a merger. We show that synergies suppress managerial...

We analyze the effects of synergies from horizontal mergers in a Cournot oligopoly where principals provide their agents with incentives to cut marginal costs prior to choosing output. We stress that synergies come at a cost which possibly leads to a countervailing incentive effect: The merged...