Results 31 to 40 of about 515 (142)
Stepping Stones or Stumbling Blocks? Domestic Mergers and Cross‐Border Consolidation
Economic Notes, Volume 55, Issue 2, July 2026.ABSTRACT We build on empirical evidence showing that international acquisitions exhibit path dependence and often unfold as sequences of deals, and argue that domestic and cross‐border mergers are not necessarily isolated events. Specifically, we ask whether blocking a domestic merger that reduces consumer surplus in the short run could inadvertently ...
Salvatore Piccolo +2 more
wiley +1 more source
The Optimal Bribe: Price Versus Quantity Competition in Oligopolies
The Manchester School, Volume 94, Issue 4, Page 378-397, July 2026.ABSTRACT We analyze an entry deterrence model between an incumbent firm and a potential entrant, where the incumbent strategically offers bribes to local officials to raise entry barriers. Our focus is a three‐stage Bertrand game under incomplete information in a differentiated goods market.
Vishavdeep Sharma +1 more
wiley +1 more source
Cross‐Ownership and Endogenous R&D Risk in Cournot Triopoly
The Manchester School, Volume 94, Issue 4, Page 421-437, July 2026.ABSTRACT We examine how cross‐ownership influences firms' endogenous R&D risk‐taking in a Cournot triopoly, where two “insider” firms hold passive equity stakes in each other, and a third firm remains unaffiliated. Firms invest in stochastic R&D that lowers marginal costs and choose their risk level—measured by outcome variance—prior to quantity ...
Mingqing Xing, Ally Quan Zhang
wiley +1 more source
Imitators and optimizers in Cournot oligopoly [PDF]
Journal of Economic Dynamics and Control, 2002 We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round a l`a Vega-Redondo (1997). Optimizers play a myopic best response to the opponents’ previous output.
openaire +8 more sources
The RAND Journal of Economics, Volume 57, Issue 2, Page 334-348, Summer 2026.ABSTRACT We study a long‐horizon, oligopolistic market with random shocks to demand that can be arbitraged by two storage operators with finite capacity. This problem applies to any storable commodity—that is, most commodities. Because the arbitrage spread is so sensitive to market power, storage operators face strong incentives to restrain quantities ...
Sergei Balakin, Guillaume Roger
wiley +1 more source
Why Is Exclusivity in Broadcasting Rights Prevalent and Why Does Simple Regulation Fail?
The RAND Journal of Economics, Volume 57, Issue 2, Page 402-419, Summer 2026.ABSTRACT Pay‐TV firms compete both downstream to attract viewers and upstream to acquire broadcasting rights. Because profits inherited from downstream competition satisfy a convexity property, allocating rights to the dominant firm maximizes the industry profit.
David Martimort, Jerome Pouyet
wiley +1 more source
Strategic delegation and risk‐taking in R&D: Partial delegation versus full delegation
International Journal of Economic Theory, Volume 22, Issue 2, Page 183-207, June 2026.Abstract We examine firm's risk‐taking decisions in R&D under two different delegation strategies between partial delegation (PD) and full delegation (FD): FD authorizes both quantity and R&D risk but PD only authorizes quantity. Cournot firms under the FD set higher profit weights at the expected value of cost realization, which can lessen competition,
Mingqing Xing, Sang‐Ho Lee
wiley +1 more source
Do carbon prices affect stock prices?
Journal of Financial Research, Volume 49, Issue 2, Page 631-665, Summer 2026.Abstract We explore how carbon pricing affects corporate financial performance during Phase 3 of the European Union Emissions Trading Scheme (EU ETS). We find that the relationship between carbon prices and stock prices depends critically on the proportion of verified emissions covered by freely allocated ETS allowances: For firms with a greater ...
Patrick Bolton +2 more
wiley +1 more source
Optimal Taxation with Cournot Oligopoly [PDF]
The B.E. Journal of Economic Analysis & Policy, 2005 Abstract This paper studies optimal linear taxation in a general equilibrium model with Cournot oligopoly. The main result is the following. With imperfect competition the tendency toward "inverse elasticities" tax rules will be weakened and may even be reversed.
openaire +1 more source
The Journal of Finance, Volume 81, Issue 3, Page 1321-1375, June 2026.ABSTRACT We develop a unified theory of blockholder governance and the voting premium in a setting without takeovers or controlling shareholders. A voting premium emerges when a minority blockholder can influence shareholder composition by accumulating votes and buying shares from dissenting shareholders.
DORON LEVIT, NADYA MALENKO, ERNST MAUG
wiley +1 more source