The paper presents a game-theoretic model in order to investigate to what extent an employee privatization program of a State owned firm can be feasible under certain assumptions concerning the players' objective functions and the market structure in which the firm operates. The public managers...

The aim of the present paper is to show that the existence of a concrete outside option for firms executives can induce, under specific circumstances, every firm to adopt restrictive output practises. In particular, the paper characterizes the conditions for which, under Cournot oligopoly,...

This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set solution concept and establish the existence of a unique pure-strategy price solution for any given level of capacity. This solution is shown to coincide with the...

This paper focuses on the strategic use of firms’ R&D agreements to overcome R&D inefficiencies under asymmetric information and research spillovers. We introduce a duopoly game where initially one firm is not fully informed on its rival’s R&D productivity. We show that, without R&D...

This paper analyzes price collusion in a repeated game with two submarkets; a standard and a premium quality segment. Within this setting, we study four types of price- xing agreement: (i) a segment-wide cartel in the premium submarket only, (ii) a segment-wide cartel in the standard submarket...

In the wake of falling commodity prices, the accuracy of GDP growth estimates in some emerging market economies have been subject to debate, in part because of the single-deflation method used to derive volume measures. A volume estimate of GDP is an essential measure of economic activity...

This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set stability concept and establish the existence of a unique pure-strategy price solution for any given level of capacity. This solution is shown to coincide with...

This paper explores how social interactions among consumers shape markets. In a two-country model, consumers meet and exchange information about the quality of the goods. As information spreads, the demands evolve, affecting the prices and quantities manufactured by profit-maximizing firms. We...