Results 21 to 30 of about 515 (142)
Reaching Cournot-Walras Equilibrium [PDF]
ESAIM: Proceedings and Surveys, 2017 Summary: Considered here is repeated interaction among economic agents. These must share privately held user rights to diverse production factors. The disparate features of the resulting economy motivate a solution concept which blends Cournot/Nash equilibrium with that of Walras.
Flåm S. D., Gramstad K.
openaire +2 more sources
Rational Expectations Fools' Bubbles
International Economic Review, EarlyView.ABSTRACT We develop a rational, Walrasian model of speculative bubbles inspired by the Kindleberger–Minsky view, which describes bubbles as wave‐like market processes. Touched off by an initial shock, price booms are initially self‐reinforcing but become self‐destructive later when prices surpass fundamental value.
Luis Araujo, Antonio Doblas‐Madrid
wiley +1 more source
Product Positioning and Incentives to Innovate
Journal of Economics &Management Strategy, EarlyView.ABSTRACT This paper shows that product positioning affects the incentives to invest in process innovation. The result is found using a model of price competition with three firms under horizontal product differentiation—and then extended to a more general Bertrand triopoly.
Emanuele Bacchiega, Paolo G. Garella
wiley +1 more source
CBDC as Imperfect Substitute to Bank Deposits: A Macroeconomic Perspective
Journal of Money, Credit and Banking, EarlyView.Abstract The impact of Central Bank Digital Currency (CBDC) is analyzed in a closed‐economy model with monopolistic competition in banking and where CBDC is an imperfect substitute with bank deposits. The design of CBDC is characterized by its interest rate, its substitutability with bank deposits, and its relative liquidity.
PHILIPPE BACCHETTA, ELENA PERAZZI
wiley +1 more source
The Journal of Industrial Economics, EarlyView.ABSTRACT We study optimal simple rating systems that partition sellers into a finite number of tiers. We show that optimal ratings must be threshold partitions, and that for linear supply and Cournot competition with constant marginal cost, optimal thresholds solve a k‐means clustering problem requiring only the quality distribution.
Hugo Hopenhayn, Maryam Saeedi
wiley +1 more source
Make or Buy Decisions and Data Sharing
The Journal of Industrial Economics, EarlyView.ABSTRACT Firms can share data to discover potential synergies between their data sets and algorithms, eventually leading to more efficient mergers and acquisitions (M&A) decisions. However, data sharing also modifies the competitive balance when firms do not merge, and a company may be reluctant to share data with potential rivals.
Antoine Dubus, Patrick Legros
wiley +1 more source
Stackelberg-Cournot and Cournot Equilibria in a Mixed Markets Exchange Economy
Theoretical Economics Letters, 2012 Forthcoming
openaire +6 more sources
The Manchester School, EarlyView.ABSTRACT This study considers mutual outsourcing firms in a vertically related market and examines their strategic adoption of environmental corporate social responsibility (ECSR) activities. We demonstrate that ECSR adoption reduces mutual outsourcing firms' profits, resulting in a prisoner's dilemma situation, but enhances welfare regardless of ...
Lili Xu, Xinying Fan, Sang‐Ho Lee
wiley +1 more source
Scottish Journal of Political Economy, EarlyView.ABSTRACT This study considers consumers' environmental awareness of polluting firms' managerial delegation contracts and compares the effects of committed and time‐consistent emission tax policies. It reveals that when environmental performance (EP) incentives prevail, sales performance (SP) incentives depend on the emission tax type and competition ...
Lili Xu, Yuntong Yin, Sang‐Ho Lee
wiley +1 more source
Considering trade policy: Then and now
Canadian Journal of Economics/Revue canadienne d'économique, EarlyView.
Barbara J. Spencer
wiley +1 more source