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  • Articles  (1,075)
  • Blackwell Publishing Ltd  (1,075)
  • American Physical Society (APS)
  • 1995-1999  (1,075)
  • 1990-1994
  • 1995  (1,075)
  • Economics  (1,075)
  • 1
    Electronic Resource
    Electronic Resource
    Nonlinear Pricing and Oligopoly (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We consider the general problem of price discrimination with nonlinear pricing in an oligopoly setting where firms are spatially differentiated. We characterize the nature of optimal pricing schedules, which in turn depends importantly upon the type of private information the customer possesses–either horizontal uncertainty regarding brand preference or vertical uncertainty regarding quality preference. We show that as competition increases, the resulting quality distortions decrease, as well as price and quality dispersions. Additionally, we indicate conditions under which price discrimination may raise social welfare by increasing consumer surplus through encouraging greater entry.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00529.x
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  • 2
    Electronic Resource
    Electronic Resource
    Shareholder Activism, “Voluntary” Restructuring, and Internal Labor Markets (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We model an internal labor market in which employee behavior and compensation are affected by the firm's financial position and the threat of hostile takeover or other exercise of shareholder “voice.” We show how good past performance can result in excessively generous promotion and pay decisions. While the threat of shareholder activism will remove this “slack,” activists optimally face a positive cost barrier, which in turn varies across firms. The cost barrier is higher when cooperation or “helping” between employees is more important, and is lower when employees receive efficiency wages due to an inability to “pay” for their jobs. Since the importance of helping is associated with pay compression and “flat” pay ladders, such firms should also exhibit a greater degree of management entrenchment.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00591.x
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  • 3
    Electronic Resource
    Electronic Resource
    Stable R&D Cooperation with Spillovers (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The literature on the incentives for R & D cooperation with spillovers typically deals only with the factors affecting cooperative profits. This paper focuses on the incentives to cheat and the stability of such cooperative agreements in a repeated game framework. It is shown that the stability of cooperation is influenced by the nature and magnitude of spillovers, relative to the nature and degree of product market competition. While cooperative profits are higher with large positive (exogenous, unintended) know-how spillovers, such as in fundamental research, our anslysis shows that it may be easier to sustain cooperation in areas with lower spillovers, such as applied research, because of the smaller incenfives to cheat on the initial agreement, at least when firms produce substitutes. Alternatively, the possibility of technology sharing (i.e., intended or endogenous spillovers), besides R&D coordination, not only increases cooperative profits but also reduces the incentives to defect from a cooperative equilibrium.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00651.x
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  • 4
    Electronic Resource
    Electronic Resource
    Managerial Incentives Based on Acquisition of Information (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In a moral hazard setting, we model the fact that the agent may get private signals about the final outcome of his effort before the public realization of this outcome. Actions affect both the distribution of the outcome and the quality of the agent's private information. We compare simple contracts, based on output only, with revelation contracts, based on output and messages about signals. Revelation contracts give the agent some discretionary power during the course of the relationship; they are optimal if and only if lowering effort does not increase the quality of private information in the sense of Blackwell (1953). In the context of managerial compensation schemes, the revelation contracts we analyze can be viewed as allowing the agent to exercise an option on the final profits before the realization of these profits. The theory thus provides an alternative justification of the widespread use of stock options in managerial compensation schemes, as opposed to compensation schemes that rely only on salary, bonus, and (restricted) stock plans.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00427.x
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  • 5
    Electronic Resource
    Electronic Resource
    Introduction (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00133.x
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  • 6
    Electronic Resource
    Electronic Resource
    Executive Forum Restructuring the Wireless Industry and the Information Skyway (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00139.x
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  • 7
    Electronic Resource
    Electronic Resource
    Tacit Collusion Under regulation in the Pricing of Interstate Long-Distance Telephone Services (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Analysis of seven wholesale and retail markets for long-distance telephone services since the AT & T divestiture indicates that service provider concentration declined in the later 1980s and then stabilized in the 2990–1993 period. In addition to this stability in market shares, a number of other conditions established since 1990 have been conducive to the development of market sharing rather than significant price competition. The most important of these conditions has been the tarifing process of the Federal Communications Commission by which MCI and Sprint replicate ATGT's price announcements. As market shares stabilized and became more equal, and as regulation formalized the price-setting process, the price-cost margins of the three large carriers increased and became more nearly identical. These results are consistent not with price competition but rather with emerging tacit collusion among AT&T, MCI, and Sprint.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00147.x
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  • 8
    Electronic Resource
    Electronic Resource
    Money Out of Thin Air: The nationwide Narrowband pcs Auction (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The Federal Communications Commission held its first auction of radio spectrum at the Nationwide Narrowband PCS Auction in July 1994. The simultaneous multiple-round auction, which lasted five days, was an ascending bid auction in which all licenses were offered simultaneously. This paper describes the auction rules and how bidders prepared for the auction. The full history of bidding is presented. Several questions for auction theory are discussed. In the end, the government collected $617 million for ten licenses. The auction was viewed by all as a huge success an excellent example of bringing economic theory to bear on practical problems of allocating scarce resources.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00267.x
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  • 9
    Electronic Resource
    Electronic Resource
    The Effect of Incentive regulation on Infrastructure Modernization: Local Exchange Companies' Deployment of Digital Technology (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study examines the investment patterns of all large local exchange telephone companies in the United States over time. It identifies how different regulatoy environments have influenced the recent historical pattern of investment in modern infrastructure equipment. It focuses exclusively on the postdivestiture experience of local telephone exchange companies (LECs). It examines the growth of fiber-optic deployment and of complementary equipment associated with the modernization of today's information infrastructure. The study estimates the influence of different regulatory structures on infrastructure deployment by LECs. The study is unique in that if relates individual LEC investment patterns to LEC-specific regulatory, demographic, and economic characteristics. Thus, it isolates the contribution of state regulatory policies from that of other demographic and economic factors in the determination of infrastructure deployment at the state LEC rather than at the corporate level. Its main findings are as follows: First, price regulation (and, in particular, price caps) is a more potent regulatory mechanism than the standard earnings sharing scheme. Second, when associated with an earnings sharing scheme, price regulation is less effective in triggering infrastructure deployment than when it is implemented by itself. These results raise questions about the effectiveness of a popular regulatory instrument-earnings sharing schemes-and highlight the effectiveness of generic price-cap regulation. These results have implications for the design of regulatory policy at both the state and federal levels. In particular, given the importance currently being placed on the development of the information superhighway, regulatory emphasis should be focused more on price regulation than on regulating profits.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00187.x
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  • 10
    Electronic Resource
    Electronic Resource
    Auctioning the Airwaves: The Contest for Broadband pcs Spectrum (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 4 (1995), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The House and Senate of the United States Congress recently passed legislation that directs the FCC to establish a system for using auctions to allocate the use of radio spectrum for personal communications services. There is a unique and unprecedented set of issues that arise in this context, which are of interest to economists, industry analysts, regulators, and policymakers. We discuss these issues and evaluate their likely impact on the outcome of the spectrum auctions. In addition, we argue that there may be pitfalls in the auction procedure adopted by the FCC, and we discuss possible alternative procedures.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1995.00345.x
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