Competitive Search with Ex-post Opportunism
نویسندگان
چکیده
منابع مشابه
Competitive Search with Ex - post Opportunism By Pere Gomis - Porqueras Benoît Julien
We consider a frictional market where buyers are uncoordinated and sellers cannot commit ex-ante to either a per-unit price or quantity of a divisible good. Sellers then can exploit their local monopoly power by adjusting prices or quantities once the local demand is realized. We find that when sellers can adjust quantities ex-post, there exists a unique symmetric equilibrium where the increase...
متن کاملSafeguarding Interorganizational Performance and Continuity Under Ex Post Opportunism
Opportunism is a central construct in exchange theory. Economists contend that despite the firm’s best efforts to erect governance structures that reduce opportunism and preserve outcomes, there is always some opportunism that remains once the transaction is in place. Despite this, there are few studies that systematically investigate the safeguarding efficacy of relationship attributes in the ...
متن کاملEquilibrium in competitive insurance markets with ex ante adverse selection and ex post moral hazard
Existence of pure strategy equilibria is studied in health insurance markets that exhibit both ex ante adverse selection of the Rothschild–Stiglitz–Wilson type, and ex post hidden information moral hazard. It is found that ex post moral hazard has two offsetting effects on the existence of equilibrium, and that in general it is difficult to say whether an equilibrium is more or less likely to e...
متن کاملSimultaneous Search with Heterogeneous Firms and Ex Post Competition
We study a search model where workers can send multiple applications to high and low productivity firms. Firms that compete for the same candidate can increase their wage offers as often as they like. We show that there is a unique equilibrium where workers mix between sending both applications to the high and both to the low productivity sector. Efficiency requires however that they apply to b...
متن کاملSourcing parts of complex products: evidence on transactions costs, high-powered incentives and ex-post opportunism
This paper revisits evidence on the correlates of sourcing decisions in the US auto industry to see whether adoption of new contracting terms and early involvement of suppliers in design activities (e.g. ``relational contracting'') yields dierent results as compared to previous ®ndings. Previous studies ®nd that US auto ®rms insource complex parts that require investments in speci®c assets. Ab...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The B.E. Journal of Theoretical Economics
سال: 2017
ISSN: 1935-1704
DOI: 10.1515/bejte-2016-0083