ERPN: Other Microeconomic Theory (Sub-Topic)最新文献

{"title":"Strategic Wage Posting with Fixed Quotas","authors":"Thomas Jungbauer","doi":"10.2139/ssrn.3616411","DOIUrl":"https://doi.org/10.2139/ssrn.3616411","url":null,"abstract":"This paper analyzes the effects of market power on the performance of matching markets with slot-specific transfers. I find that strategic wage posting in such markets does, in general, not result in assortative matching since firms with higher quotas—and thus relatively more market power—pay on average lower wages than their competitors due to a lack of within-firm rivalry. If highly productive firms command market power, the resulting welfare loss may be substantial. Moreover, firms typically do not gain from wage discrimination. Thus, strategic wage posting is compatible with the absence of entry-level wage variation within firms.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115136793","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Strategic Tax Mechanism","authors":"G. Stamatopoulos","doi":"10.2139/ssrn.3380867","DOIUrl":"https://doi.org/10.2139/ssrn.3380867","url":null,"abstract":"We introduce a novel commodity tax mechanism in oligopolies that improves upon the standard tax policies. The government (i) announces an excise tax rate $tau$ and (ii) auctions-off a number of tax exemptions. Namely, it invites the firms in a market to acquire the right to be exempted from the excise tax. The highest bidders are exempted paying the government their bids; and all other firms remain subject to $tau$. Depending on the characteristics of the market, the mechanism we suggest has a number of desirable features. First, it allows the government to collect more revenues than the standard commodity tax policies (this is due to the competition among the firms to acquire the exemptions). Second, for markets where firms have informational advantage over the government, the mechanism allows for information revelation (via the firms' bids in the auction). Third, it impedes collusive activities in the market (as the mechanism creates an artificial asymmetry among the firms, which hinders collusion). Lastly, the mechanism is voluntary, namely the firms participate in the auction only if they wish and hence they are free to choose how to be taxed.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116371112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Managing Transition from Entrepreneurial Firm to Professional Firm","authors":"A. Aggarwal","doi":"10.2139/ssrn.3183679","DOIUrl":"https://doi.org/10.2139/ssrn.3183679","url":null,"abstract":"This paper aims at appreciating the need for and relevance of effectively managing transition from growing entrepreneurial firm to become professionally managed Enterprise. Business growth, especially the growth of an entrepreneurial firm, has important implications on the firm and the entrepreneur. Growth makes a firm bigger and hence introduces a number of managerial challenges forcing changes in the present style of working and management orientation. This paper attempts to broaden the perspective of the first generation entrepreneurs by creating awareness about necessity to manage transition at the right time to more effectively cope with, and manage, the growth process. An attempt has also been made to familiarize such entrepreneurs with the relevant techniques and best practices for managing and succeeding in traumatic transition process of entrepreneurial set-ups in a global business scenario. It is intended to equip the entrepreneur to focus on creating a good understanding of the management issues associated with new ventures. Once the entrepreneur is focused, the approach will be to cover key issues of relevance and provide a good overall understanding of the management challenges in the context of new ventures transition.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127031464","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic Dark Matter: On the Theory of Substitutability","authors":"B. Markey-Towler","doi":"10.2139/ssrn.2971744","DOIUrl":"https://doi.org/10.2139/ssrn.2971744","url":null,"abstract":"This paper proposes a model of the psychology of behaviour in which theories of economic behaviour based on the assumption of substitutability may coexist with theories based on the assumption of non-substitutability. The whole spectrum of possibilities for substitutability between courses of action is considered: substitutability, non-substitutability and complimentarity. We recover traditional economic theories of behaviour as “making tradeoffs” when we impose the assumption of substitutability. We find that if we suppose non-substitutability there are three kinds of behaviour which may arise which aren’t the result of “making tradeoffs” but instead could be characterised by the statements “it just doesn’t Cut It” (in the case of basic non-substitutability), “I can’t go without this” (in the case of non-substitutability created by the existence of needs) and “together or not at all” (in the case of complimentarity). We thus expand the spectrum of behaviours which economic theory may explain as non-exotic and standard.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126401836","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tech Starts: High-Technology Business Formation and Job Creation in the United States","authors":"Ian F. Hathaway","doi":"10.2139/SSRN.2310617","DOIUrl":"https://doi.org/10.2139/SSRN.2310617","url":null,"abstract":"New and young businesses — as opposed to small businesses generally — play an outsized role in net job creation in the United States. But not all new businesses are the same — the substantial majority of nascent entrepreneurs do not intend to grow their businesses significantly or innovate, and many more never do. Differentiating growth-oriented “start-ups” from the rest of young businesses is an important distinction that has been underrepresented in research on business dynamics and in small business policy.To advance the conversation, we contrast business and job creation dynamics in the entire U.S. private sector with the innovative high-tech sector — defined here as the group of industries with very high shares of employees in the STEM fields of science, technology, engineering, and math. We highlight these differences at the national level, as well as detailing regions throughout the country where high-tech start-ups are being formed each year. The major findings include:• The high-tech sector and the information and communications technology (ICT) segment of high-tech are important contributors to entrepreneurship in the U.S. economy. During the last three decades, the high-tech sector was 23 percent more likely and ICT 48 percent more likely than the private sector as a whole to witness a new business formation.• High-tech firm births were 69 percent higher in 2011 compared with 1980; they were 210 percent higher for ICT and 9 percent lower for the private sector as a whole during the same period. This is important because the productivity growth and job creation unleashed by these new and young firms — aged less than five years — require a continual flow of births each year.• Of new and young firms, high-tech companies play an outsized role in job creation. High tech businesses start lean but grow rapidly in the early years, and their job creation is so robust that it offsets job losses from early-stage business failures. This is a key distinction from young firms across the entire private sector, where net job losses resulting from the high rate of early-stage failures are substantial.• Young firms exhibit an “up-or-out” dynamic, where they tend to either fail or grow rapidly in the early years. The job-creating strength of surviving young firms, while strong for young businesses across the private sector as a whole, is especially distinct for high-tech start-ups: the net job creation rate of these surviving young firms is twice as robust. • High-tech and ICT firm formations are becoming increasingly geographically dispersed. As technological advancement allows for the production of high-tech goods and services in a wider set of areas, many regions are catching up. The opposite has been true for the private sector as a whole, where new business growth has been occurring most in regions with already higher rates of new business formation.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125961465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Coase and the Kirznerians","authors":"T. Otáhal","doi":"10.2139/ssrn.1924255","DOIUrl":"https://doi.org/10.2139/ssrn.1924255","url":null,"abstract":"I interpret the theory of entrepreneurial discovery from the perspective of the theory of property rights. I analyze pure entrepreneurial profit and the logical construction of the theory as an extension of neo-classical microeconomic analysis and I argue that the key motivation for entrepreneurial discovery, the opportunity to discover pure entrepreneurial profit, is given by the structure of property rights. The structure of property rights determines entrepreneurial claims for pure profit, the level of protection against conflict of interest, costs of exclusive production means and social order.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116991158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Note on Passepartout Problems","authors":"A. Estévez-Fernández, P. Borm, H. Hamers","doi":"10.2139/ssrn.1569547","DOIUrl":"https://doi.org/10.2139/ssrn.1569547","url":null,"abstract":"This note provides a methodological contribution to the allocation of joint revenues obtained from passepartouts. In a passepartout system, a group of service providers offers a passepartout that allows its owners the use of specified services for an unlimited number of times during a fixed period of time. The corresponding allocation problem is, then, how to share the total joint revenues of the passepartout system adequately among the service providers. Arguments are provided to model a passepartout problem within the framework of bankruptcy and context-specific properties are considered in order to select an appropriate allocation rule.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129451480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Lessons from the Laureates","authors":"W. Breit, B. Hirsch","doi":"10.2139/ssrn.1336053","DOIUrl":"https://doi.org/10.2139/ssrn.1336053","url":null,"abstract":"This paper uses as source material twenty-three autobiographical essays by Nobel economists presented since 1984 at Trinity University (San Antonio, Texas) and published in Lives of the Laureates (MIT Press). A goal of the lecture series is to enhance understanding of the link between biography and the development of modern economic thought. We explore this link and identify common themes in the essays, relying heavily on the words of the laureates. Common themes include the importance of real-world events coupled with a desire for rigor and relevance, the critical influence of teachers, the necessity of scholarly interaction, and the role of luck or happenstance. Most of the laureates view their research program not as one planned in advance but one that evolved via the marketplace for ideas.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125619978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Competition Policy and Market Leaders","authors":"Ilir Maci, Krešimir Žigić","doi":"10.2139/ssrn.1483201","DOIUrl":"https://doi.org/10.2139/ssrn.1483201","url":null,"abstract":"We study the potential loss in social welfare and changes in incentives to invest in R&D that result when the market leading firm is deprived of its position. We show that under plausible assumptions like free entry or repeated market interactions there is a social value of market leadership and its mechanical removal by means of competition policy is likely to be harmful for society.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"202 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114065017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Contractual Tradeoffs and Smes Choice of Organizational Form, a View from U.S. And French History, 1830-2000","authors":"N. Lamoreaux, Jean‐Laurent Rosenthal","doi":"10.3386/W12455","DOIUrl":"https://doi.org/10.3386/W12455","url":null,"abstract":"Today the vast majority of multi-owner firms in the United States are corporations, but that was not the case in the past. Before the advent of the income tax, tort litigation, and significant federal regulation, entrepreneurs more often than not chose to organize as partnerships, a form that economists consider seriously flawed. Why would they make such a terrible mistake? We begin by noting that corporations created new types of contracting problems for businesses at the same time as they solved problems afflicting partnerships. We then model the tradeoffs involved in the choice of corporations versus partnerships and confirm that the model's assumptions are consistent with U.S. legal rules up through the 1940s. The model implies that partnerships and corporations are complementary organizational forms, and we show that data from the U.S. Census of Manufactures strongly supports that implication. We also verify that the model's assumptions hold for the broader set of organizational choices available under the French Code de Commerce and use data on multi-owner firms registered in Paris in the 1830s and 1840s to demonstrate the complementary character of the basic forms. Despite much literature emphasizing the fundamentally different environments for business associated with the French and U.S. legal regimes, the basic calculus underpinning the choice of organizational form was the same in both countries.","PeriodicalId":329354,"journal":{"name":"ERPN: Other Microeconomic Theory (Sub-Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122231657","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}