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Author: Evangelia Chalioti Publisher: ISBN: Category : Languages : en Pages : 22
Book Description
We consider a principal-agent model to provide a general analysis of how risk affects incentives of firms who invest in cost-reducing R&D and compete in the product market. We specify the conditions under which higher risk reduces incentives of all firms. We also examine the conditions under which an increase in risk may trigger opposite responses of rivals in the same industry: some firms will strengthen while other firms will weaken the incentives provided to their agents. This result holds regardless of the mode of competition in the product market, Cournot or Bertrand, as long as the rivals' R&D decisions are strategic substitutes. It can generate new empirical implications and can provide an explanation for the lack of strong empirical support in the literature for a negative relationship between risk and incentives. We also discuss policy implications regarding the effect of risk on the incentives to innovate and welfare.
Author: Evangelia Chalioti Publisher: ISBN: Category : Languages : en Pages : 22
Book Description
We consider a principal-agent model to provide a general analysis of how risk affects incentives of firms who invest in cost-reducing R&D and compete in the product market. We specify the conditions under which higher risk reduces incentives of all firms. We also examine the conditions under which an increase in risk may trigger opposite responses of rivals in the same industry: some firms will strengthen while other firms will weaken the incentives provided to their agents. This result holds regardless of the mode of competition in the product market, Cournot or Bertrand, as long as the rivals' R&D decisions are strategic substitutes. It can generate new empirical implications and can provide an explanation for the lack of strong empirical support in the literature for a negative relationship between risk and incentives. We also discuss policy implications regarding the effect of risk on the incentives to innovate and welfare.
Author: Jonas Heite Publisher: Springer Nature ISBN: 3658292318 Category : Business & Economics Languages : en Pages : 219
Book Description
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: David J. Teece Publisher: Edward Elgar Publishing ISBN: Category : Business & Economics Languages : en Pages : 528
Book Description
This cohesive collection brings together David J. Teece's most important work on the nexus of innovation and competition policy. He was one of the first to flag the importance of innovation issues to competition policy 25 years ago. He has also pioneered the application of economic and organizational principles to issues in the management of innovation. Throughout these essays, Professor Teece shows how technological advances, the advent of the Internet and other recent shifts in the global business landscape have placed businesses in a radically altered situation from even just a few decades ago. He clearly elucidates the need for both businesses and policymakers to adapt to this rapidly evolving landscape by embracing and fostering next-generation competition policies. Topics discussed include antitrust policy, technology strategies, competition policy, market power and intellectual property issues. Students and professors of business and management, innovation studies, intellectual property and competition lawyers will find this volume a critical asset to their work. Policymakers and regulators will also benefit immensely from this lucid and comprehensive collection.
Author: Federico Etro Publisher: Springer Science & Business Media ISBN: 3540496017 Category : Science Languages : en Pages : 296
Book Description
This book reviews recent progress in the theory of oligopoly and market leadership and provides new results on the theory of Stackelberg competition and Nash competition with strategic investment under endogenous entry. These theories are applied to models of competition in quantities, prices and to patent races. The results are used to propose a new approach to competition policy and issues of the abuse of dominance.
Author: Boris Maurer Publisher: Springer Science & Business Media ISBN: 3642959253 Category : Science Languages : en Pages : 167
Book Description
The common topic of this collection of studies is the interaction between innova tive activity of firms and industrial structure. I call this interaction technological competition. Firms invest into R&D in order to open up new or enlarge existing profit opportuni ties for the future. A successful R&D-project leads to an innovation. An innovation introduced into the market changes the competitive structure of the industry. At the same time the structure of the industry shapes the incentives to invest into R&D. What matters for these incentives is not so much the existing structure but the expected dynamic evolution of that industry which is again dependent on the innovative choice of firms. Amongst other things, the dynamic of industry evolution is therefore rooted in the dynamics of ongoing innovative activity. Of course, this is not always the whole sto ry. There are (more or less) exogenous factors, like knowledge spillovers from other sectors of the economy, technological breakthroughs in basic research that directly influence the state of competition in an industry by providing additional profit op portunities, etc. The same is true for exogenous changes in upstream markets or demand conditions. My main interest here is not primarily to understand these exogenous forces, but to develop a theory of how the process of firms' innovative activity is shaped by competition and in turn shapes future competition between firms in an industry.
Author: Giovanni Dosi Publisher: Oxford University Press ISBN: 0198290985 Category : Business enterprises Languages : en Pages : 357
Book Description
The determinants of a firm's innovative capacity are rooted in organizational design, incentives, human resources, internal culture, and external linkages. Profiting from innovation is always a challenge and licensing is one of many options.
Author: International Economic Association Publisher: MIT Press ISBN: 9780262690935 Category : Business & Economics Languages : en Pages : 588
Book Description
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: Felix Oberholzer-Gee Publisher: Harvard Business Press ISBN: 1633699706 Category : Business & Economics Languages : en Pages : 348
Book Description
Named one of the best strategy books of 2021 by strategy+business Get to better, more effective strategy. In nearly every business segment and corner of the world economy, the most successful companies dramatically outperform their rivals. What is their secret? In Better, Simpler Strategy, Harvard Business School professor Felix Oberholzer-Gee shows how these companies achieve more by doing less. At a time when rapid technological change and global competition conspire to upend traditional ways of doing business, these companies pursue radically simplified strategies. At a time when many managers struggle not to drown in vast seas of projects and initiatives, these businesses follow simple rules that help them select the few ideas that truly make a difference. Better, Simpler Strategy provides readers with a simple tool, the value stick, which every organization can use to make its strategy more effective and easier to execute. Based on proven financial mechanics, the value stick helps executives decide where to focus their attention and how to deepen the competitive advantage of their business. How does the value stick work? It provides a way of measuring the two fundamental forces that lead to value creation and increased financial success—the customer's willingness-to-pay and the employee's willingness-to-sell their services to the business. Companies that win, Oberholzer-Gee shows, create value for customers by raising their willingness-to-pay, and they provide value for talent by lowering their willingness-to-sell. The approach, proven in practice, is entirely data driven and uniquely suited to be cascaded throughout the organization. With many useful visuals and examples across industries and geographies, Better, Simpler Strategy explains how these two key measures enable firms to gauge and improve their strategies and operations. Based on the author's sought-after strategy course, this book is your must-have guide for making better strategic decisions.
Author: Evangelia Chalioti
Author: Evangelia Chalioti
Author: Jonas Heite
Author: David J. Teece
Author: Federico Etro
Author: Boris Maurer
Author: David Stuart Scharfstein
Author: Jerome Ellig
Author: Giovanni Dosi
Author: International Economic Association
Author: Felix Oberholzer-Gee