منابع مشابه
When Does Competition Foster Commitment?
C a firm that would like to commit to a focused business strategy because focus improves efficiency and thus increases profit. We identify two general conditions under which tougher competition strengthens the firm’s ability to commit to a focused strategy. Under these conditions, competition fosters commitment for two reasons: (i) competition reduces the value of the option to diversify (the c...
متن کاملWhen Does Competition Foster Commitment? Online Supplement
We here provide examples that demonstrate how the model in "When Does Competition Foster Commitment" can be extended to cases in which 1) strategy-speci c investments improve pro tability by increasing demand rather than by reducing costs or 2) commitment also serves as a coordination device. Contacts: Ferreira, LSE, Department of Finance, and Kittsteiner, RWTH Aachen University, School of Busi...
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Does Democracy Foster Trust? The level of trust inherent in a society is important for a wide range of microeconomic and macroeconomic outcomes. This paper investigates how individuals’ attitudes toward social and institutional trust are shaped by the political regime in which they live. The German reunification is a unique natural experiment that allows us to conduct such a study. Using data f...
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The paper studies agents’ investment decisions between general and speci...c investments under di¤erent ownership structures in a thin, decentralized market where each agent’s decision a¤ects the decisions and welfare of other (otherwise unrelated) agents mainly through indirect market linkages. The paper demonstrates that “excess competition among investors,” in every equilibrium, will lead to...
متن کاملWhen competition does not matter: grassland diversity and community composition.
We examined whether the intense root competition in a rough fescue grassland plant community in central Alberta, Canada, was important in structuring plant species diversity or community composition. We measured competition intensity across gradients of species richness, evenness, and community composition, using pairs of naturally occurring plants of 12 species. One plant in each pair was isol...
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ژورنال
عنوان ژورنال: Management Science
سال: 2016
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.2015.2295