Entrepreneurs have created a number of new Internet-based platforms that enable owners to rent out their durable goodswhen not using them for personal consumption. We develop amodel of these kinds of markets in order to analyze the determinants of ownership, rental rates, quantities, and the surplus generated in these markets. Our analysis considers both a short run, before consumers can revise...

This paper examines from the developing countries perspective important analytical and policy issues arising from: a) the current international discussions about corporate governance in relation to the New International Financial Architecture; b) changes in the international competitive environment being caused by the enormous international merger movement in advanced countries. The paper's mai...

Within the affiliated private-values paradigm, we develop a tractable empirical model of equilibrium behaviour at first-price, sealed-bid auctions that admits a general dependence structure. The model is nonparametrically identified, but estimating the primitives is plagued by the curse of dimensionality when the number of bidders is even modestly large, so we develop a semiparametric estimatio...

This paper extends the line of research on cooperation in R&D in an oligopoly with spillovers. Departing from the existing literature, we adopt an infinite-horizon dynamic framework, incorporate uncertainty, and define technology spillover as diffusion of a new technology from an innovator to non-innovators. We consider two cooperative regimes: the R&D cartel in which firms coordinates R&D effo...

Case study evidence suggests that exporting firms learn from their clients. But econometric evidence, mostly using exporting and TFP growth, is mixed. We use a UK panel data set with firm-level information on exporting and productivity. Our innovation is that we also have direct data on the sources of learning (in this case about new technologies). Controlling for fixed effects we have two main...

This paper assesses the impact of product market competition on job instability. Product market competition is measured by the price-cost margin, and job instability is proxied by the intensity of the use of temporary contracts. Using both worker data from the Spanish Labor Force Survey and …rm data from the Spanish Business Strategies Survey, I show that job instability rises with competition....

Antipsychotics are indicated to treat schizophrenia and other psychotic disorders, but nursing homes have been criticized previously for using them as chemical restraints to treat behavior problems, especially for residents with dementia. We find that nearly one-in-four nursing home residents with dementia that lack severe behavioral symptoms are prescribed an antipsychotic medication. Using an...

Do firms employing undocumented workers have a competitive advantage? Using administrative data from the state of Georgia, this paper investigates the incidence of undocumented worker employment across firms and how it affects firm survival. Firms are found to engage in herding behavior, being more likely to employ undocumented workers if competitors do. Rivals’ undocumented employment harms fi...

We analyze a simple dynamic framework where sellers are capacity constrained over the length of the game. Buyers act strategically in the market, knowing that their purchases may affect future prices. The model is examined when there are single and multiple buyers, with both linear and non-linear pricing. We find that, in general, there are only mixed strategy equilibria and that sellers get a ...

This paper studies the e¤ect of captive consumers in a competitive model of nonlinear pricing. We focus on the bene…ts and drawbacks of allowing what we call market segmentation, namely, a situation where the price-quality menu o¤ered to captive consumers can di¤er from that o¤ered to consumers that are exposed to competition. We …nd that the e¤ect of market segmentation depends on the relation...