Market Competition and Incentives PDF Download

Author: David Stuart Scharfstein
Publisher:
ISBN:
Category :
Languages : en
Pages : 240

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Author: International Economic Association
Publisher: MIT Press
ISBN: 9780262690935
Category : Business & Economics
Languages : en
Pages : 588

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These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of market structures, such as numbers of firms and barriers to entry; other factors which determine the effective degree of competition in the market; the influence of major firms (especially when these pursue objectives other than profit maximization); and decentralization and coordination under control relationships other than markets and hierarchies.ContributorsJoseph E. Stiglitz, G. C. Archibald, B. C. Eaton, R. G. Lipsey, David Enaoua, Paul Geroski, Alexis Jacquemin, Richard J. Gilbert, Reinhard Selten, Oliver E. Williamson, Jerry R. Green, G. Frank Mathewson, R. A. Winter, C. d'Aspremont, J. Jaskold Gabszewicz, Steven Salop, Branko Horvat, Z. Roman, W. J. Baumol, J. C. Panzar, R. D. Willig, Richard Schmalensee, Richard Nelson, Michael Scence, and Partha Dasgupta

Author: Jonas Heite
Publisher: Springer Nature
ISBN: 3658292318
Category : Business & Economics
Languages : en
Pages : 219

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Individuals and firms can improve their performance through collaboration and competition. However, it is still an open question how collaboration and competition schemes can be optimally designed and incentivized in order to exploit their full potential. Jonas Heite investigates this question by assessing efforts to stimulate R&D collaboration and by examining properties as well as underlying mechanisms (e.g., effort, risk, confidence and stress) of ability configurations in contests. Based on three large-scale economic studies covering laboratory, field and natural experiments, the author applies novel and sophisticated econometric methods to provide causal empirical evidence that yields important implications for policymakers, managers and researchers.

Author: Albert Morales
Publisher: Rowman & Littlefield
ISBN: 9780742552135
Category : Business & Economics
Languages : en
Pages : 502

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Since the 1980s, the language used around market-based government has muddied its meaning and polarized its proponents and critics, making the topic politicized and controversial. Competition, Choice, and Incentives in Government Programs hopes to reframe competing views of market-based government so it is seen not as an ideology but rather as a fact-based set of approaches for managing government services and programs more efficiently and effectively.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Nicola Lacetera
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 33

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Abstract: Understanding the organization of R & D activities requires the simultaneous consideration of scientific workers' talent and tastes, companies' organizational choices, and the characteristics of the relevant industry. We develop a model of the provision of incentives to corporate scientists, in an environment where (1) scientists engage in multiple activities when performing research; (2) knowledge is not perfectly appropriable; (3) scientists are responsive to both monetary and non-monetary incentives; and (4) firms compete on the product market. We show that both the degree of knowledge spillovers and of market competition affect the incentives given to scientists, and these effects interact. First, high knowledge spillovers lead firms to soften incentives when product market competition is high, and to strengthen incentives when competition is low. Second, the relationship between the intensity of competition and the power of incentives is U-shaped, with the exact shape depending on the degree of knowledge spillovers. We also show that the performance-contingent pay for both applied and basic research increases with the non-pecuniary benefits that scientists obtain from research. We relate our findings to the existing empirical research, and also discuss their implications for management and public policy.

Author: Klaus M. Schmidt
Publisher:
ISBN:
Category : Incentives in industry
Languages : en
Pages : 34

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Author: G. C. Archibald
Publisher: Cambridge University Press
ISBN: 0521330459
Category : Business & Economics
Languages : en
Pages : 191

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This 1992 book examines alternative methods for achieving optimality without all the apparatus of economic planning (such as information retrieval, computation of solutions, and separate implementation systems), or a vain reliance on sufficiently 'perfect' competition. All rely entirely on the self-interest of economic agents and voluntary contract.

Author: Giancarlo Spagnolo
Publisher:
ISBN: 9789172585003
Category : Competition
Languages : en
Pages : 170

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Author: Stefan Beiner
Publisher:
ISBN:
Category :
Languages : en
Pages : 53

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This paper contributes to the very small empirical literature on the effects of competition on managerial incentive schemes. Based on a theoretical model that incorporates both strategic interaction between firms and a principal agent relationship, we analyze the relationship between product market competition, incentive schemes and firm valuation. The model predicts a nonlinear relationship between the intensity of product market competition and the strength of managerial incentives. We test the implications of our model empirically based on a unique and hand-collected dataset comprising over 600 observations on 200 Swiss firms over the 2002 to 2005 period. Our results suggest that, consistent with the implications of our model, the relation between product market competition and managerial intensive schemes is convex indicating that above a certain level of intensity in product market competition, the marginal effect of competition on the strength of the incentive schemes increases in the level of competition. Moreover, competition is associated with lower firm values. These results are robust to accounting for a potential endogeneity of managerial incentives and firm value in a simultaneous equations framework.