The paper examines the effects on growth of both private and public investment in health, schooling and culture: in short, education. These expenditures exert two effects on the growth rate: (i)they increase labour and capital stock productivity through a positive externality, and (ii) they modify saving and investment decisions through the substitutability between education and private consump...

Asymptotic Efficiency in Stackelberg Markets with Incomplete Information by Jianbo Zhang and Zhentang Zhang This paper examines the asymptotic (in)efficiency of Stackelberg markets with incomplete information. Firms who are early in the queue make their quantity choices based on limited information and their output choices are likely to deviate from those optimal under complete information. Due...

Peer to peer networks will become an increasingly important distribution channel for consumer information goods and may play a role in the distribution of information within corporations. Our research analyzes optimal membership rules for these networks in light of positive and negative externalities additional users impose on the network. Using a dataset gathered from the six largest OpenNap-b...

Do corporations owned largely by other firms participate in politics more aggressively? Assuming that political action generates externality to others, this chapter theoretically and empirically investigates how a firm’s political behavior is affected by its financial structure. I first derive the optimal political expenditure under two behavioral assumptions: shareholder-value and firm-value m...

We study how commitment of entrepreneurs to sustainability practices might effectively improve the social and environmental impact market competition. To this end we devised a experiment in which profit maximization socially environmentally concerned behavior were both potential goals producers. Our subject pool included two distinct types students having different prosocial attitudes. The adop...

Most studies on supply chain coordination assume that consumers are rational. However, with the development of e-commerce, consumer-bounded rationality has become an important issue respect to coordination. Based assumption some loyal offline shop and others reference-dependent, this article examines mechanism vertical restraints their competitive effects. This research study found compared rat...