发布求助
文献互助 智能选刊 最新文献

International Journal of Economic Theory最新文献

筛选
英文 中文
Technology licensing and collusion 技术许可与串谋
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-03-23 DOI: 10.1111/ijet.12373
Neelanjan Sen, Priyansh Minocha, Arghya Dutta
{"title":"Technology licensing and collusion","authors":"Neelanjan Sen,&nbsp;Priyansh Minocha,&nbsp;Arghya Dutta","doi":"10.1111/ijet.12373","DOIUrl":"10.1111/ijet.12373","url":null,"abstract":"<p>This paper considers the possibility of technology licensing via fixed-fee, royalty or two-part tariff and tacit collusion between firms that produce homogeneous goods under asymmetric cost structures and compete in quantities. In contrast to Lin (1996), all forms of licensing facilitate (obstruct) collusion, if the initial cost difference between the firms is relatively less (more). Technology will always be licensed, and the optimal form of licensing is either fixed-fee or royalty or two-part tariff, but collusion may or may not be possible post-licensing. Welfare decreases after licensing if the firms collude only after licensing but not collude under no-licensing.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"694-752"},"PeriodicalIF":0.5,"publicationDate":"2023-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48694338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The role of standard-setting organizations in deciding product quality and process innovation 标准制定组织在决定产品质量和工艺创新中的作用
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-03-15 DOI: 10.1111/ijet.12374
Munirul Nabin, Pasquale Sgro, Surjasama Lahiri
{"title":"The role of standard-setting organizations in deciding product quality and process innovation","authors":"Munirul Nabin,&nbsp;Pasquale Sgro,&nbsp;Surjasama Lahiri","doi":"10.1111/ijet.12374","DOIUrl":"10.1111/ijet.12374","url":null,"abstract":"<p>We analyze the effect that the presence of a standard-setting organization (SSO) has on firms' choices of product quality and costly research and development (R&amp;D) investment when consumers face uncertainty regarding product standardization. We construct a theoretical model with competing firms and compare frameworks where: (i) an SSO is exogenously absent and (ii) an SSO is present. Our first finding is a negative relationship between firms' product-quality choices and R&amp;D investment. The presence of the SSO standardizes quality which can be profitable for firms. Finally, we find conditions where the presence of an SSO could lead to welfare enhancement.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 4","pages":"767-786"},"PeriodicalIF":0.5,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41327825","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Pricing contingent convertibles with idiosyncratic risk 具有特殊风险的或有可转换债券定价
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-03-03 DOI: 10.1111/ijet.12372
Xiaolin Wang, Zhaojun Yang, Pingping Zeng
{"title":"Pricing contingent convertibles with idiosyncratic risk","authors":"Xiaolin Wang,&nbsp;Zhaojun Yang,&nbsp;Pingping Zeng","doi":"10.1111/ijet.12372","DOIUrl":"10.1111/ijet.12372","url":null,"abstract":"<p>We consider capital structure including equity, straight bonds (SBs), and contingent convertibles (CoCos) for nonfinancial firms. We price equity and CoCos by a utility-based method. We show that benefits from issuing CoCos increase dramatically with idiosyncratic risk and risk aversion. The firm value is concave in CoCos' conversion ratio and the optimal conversion ratio increases with risk aversion and idiosyncratic risk. If risk aversion is sufficiently high, shareholders' risk-shifting incentives disappear, and the firm issues less CoCos and equity and more SBs as idiosyncratic risk rises. The higher the idiosyncratic risk or risk aversion, the higher the leverage.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"660-693"},"PeriodicalIF":0.5,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44259786","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Issue Information: International Journal of Economic Theory 1/2023 发行信息：《国际经济理论杂志》1/2023
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-02-02 DOI: 10.1111/ijet.12348
{"title":"Issue Information: International Journal of Economic Theory 1/2023","authors":"","doi":"10.1111/ijet.12348","DOIUrl":"https://doi.org/10.1111/ijet.12348","url":null,"abstract":"","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 1","pages":"1-2"},"PeriodicalIF":0.5,"publicationDate":"2023-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ijet.12348","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50117808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimality in an OLG model with nonsmooth preferences 具有非光滑偏好的OLG模型的最优性
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-02-02 DOI: 10.1111/ijet.12371
Eisei Ohtaki
{"title":"Optimality in an OLG model with nonsmooth preferences","authors":"Eisei Ohtaki","doi":"10.1111/ijet.12371","DOIUrl":"10.1111/ijet.12371","url":null,"abstract":"<p>It is a well-known observation that, in the overlapping generations (OLG) model with the complete market, we can judge optimality of an equilibrium allocation by examining the associated equilibrium price. Motivated by recent development in decision theory under ambiguity, this study reexamines the above observation in a stochastic OLG model with convex but not necessarily smooth preferences. It is shown that optimality of an equilibrium allocation depends on the set of possible supporting prices, not necessarily on the associated equilibrium price itself. Therefore, observations of an equilibrium price do not necessarily tell us precise information on optimality of the equilibrium allocation.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"611-659"},"PeriodicalIF":0.5,"publicationDate":"2023-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ijet.12371","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43082590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
On the General Deviation Measure and the Gini coefficient 广义偏差测度与基尼系数
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-01-23 DOI: 10.1111/ijet.12370
Doron Nisani
{"title":"On the General Deviation Measure and the Gini coefficient","authors":"Doron Nisani","doi":"10.1111/ijet.12370","DOIUrl":"10.1111/ijet.12370","url":null,"abstract":"<p>The General Deviation Measure introduces a progressive definition for financial risk measurement, which presents an alternative to the Coherent Risk Measure. This definition replaces the Translation Invariance and Monotonicity axioms with the Shift Invariance and Nonnegativity axioms, and it includes the Mean Absolute Deviation measure and other variations of the Value-at-Risk measurements. This research shows that Coherent Risk Measure holds an intrinsic contradiction regarding riskless assets, and it proves that the Gini coefficient is also a General Deviation Measure. These contributions improve the efficiency of risk measurement and asset pricing in the financial markets.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"599-610"},"PeriodicalIF":0.5,"publicationDate":"2023-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ijet.12370","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44010618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rational stability of choice functions 选择函数的理性稳定性
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2023-01-16 DOI: 10.1111/ijet.12369
Josep E. Peris, Begoña Subiza
{"title":"Rational stability of choice functions","authors":"Josep E. Peris,&nbsp;Begoña Subiza","doi":"10.1111/ijet.12369","DOIUrl":"10.1111/ijet.12369","url":null,"abstract":"<p>Two independent approaches have been used to analyze choices. A prominent notion is rationalizability: individuals choose maximizing binary relations. An alternative is to analyze choices in terms of standards of behavior with the notion of von Neumann–Morgenstern (vNM)-stability. We introduce a new concept (<math>\u0000 <semantics>\u0000 <mrow>\u0000 <mi>r</mi>\u0000 <mo>-</mo>\u0000 </mrow>\u0000 <annotation> $r mbox{-} $</annotation>\u0000 </semantics></math>stability) that in turn extends the notion of stability and rationality. Our main result establishes that every rationalizable choice function is <math>\u0000 <semantics>\u0000 <mrow>\u0000 <mi>r</mi>\u0000 <mo>-</mo>\u0000 </mrow>\u0000 <annotation> $r mbox{-} $</annotation>\u0000 </semantics></math>stable and every vNM-stable choice has an <math>\u0000 <semantics>\u0000 <mrow>\u0000 <mi>r</mi>\u0000 <mo>-</mo>\u0000 </mrow>\u0000 <annotation> $r mbox{-} $</annotation>\u0000 </semantics></math>stable selection. An appealing property of <math>\u0000 <semantics>\u0000 <mrow>\u0000 <mi>r</mi>\u0000 <mo>-</mo>\u0000 </mrow>\u0000 <annotation> $r mbox{-} $</annotation>\u0000 </semantics></math>stability is that well-known solution concepts (top cycle, uncovered set, …) are <math>\u0000 <semantics>\u0000 <mrow>\u0000 <mi>r</mi>\u0000 <mo>-</mo>\u0000 </mrow>\u0000 <annotation> $r mbox{-} $</annotation>\u0000 </semantics></math>stable, while they are neither rationalizable nor vNM-stable.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"580-598"},"PeriodicalIF":0.5,"publicationDate":"2023-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ijet.12369","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42724092","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Setting an exam as an information design problem 将考试设置为信息设计问题
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2022-12-30 DOI: 10.1111/ijet.12368
Makoto Shimoji
{"title":"Setting an exam as an information design problem","authors":"Makoto Shimoji","doi":"10.1111/ijet.12368","DOIUrl":"10.1111/ijet.12368","url":null,"abstract":"<p>We take a teacher's exam-setting task as an information design problem. Specifically, the teacher chooses a conditional distribution of grades given students' types. After observing their exam results, each student updates her belief regarding her type via Bayes' rule and chooses an action. Students' reactions to the same exam result could be different, depending on their heterogeneous prior beliefs. The teacher's objective is to persuade students to take a certain action (e.g., applying to universities), which some may not choose without an exam. The teacher adopts different grade distributions, depending on the teacher's and the students' heterogeneous prior beliefs.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"559-579"},"PeriodicalIF":0.5,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ijet.12368","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46344707","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A note on changes in additive risky benefits and risky costs 关于附加风险收益和风险成本变化的说明
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2022-12-16 DOI: 10.1111/ijet.12367
Mario Menegatti
{"title":"A note on changes in additive risky benefits and risky costs","authors":"Mario Menegatti","doi":"10.1111/ijet.12367","DOIUrl":"10.1111/ijet.12367","url":null,"abstract":"<p>We introduce a distinction between additive risky benefits and additive risky costs, showing that it is relevant in determining decision maker choices in the presence of changes in risk. Results obtained show the specific role of the order of risk change when facing the two types of risk. Similarities and differences with the case of multiplicative risks are discussed. Moreover, the analysis is performed in two models studying respectively saving and self-protection and provides new applied results for both, some with reference to background risks.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"753-763"},"PeriodicalIF":0.5,"publicationDate":"2022-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42904245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Refining the Lorenz-ranking of rules for claims problems on restricted domains 关于限制域上索赔问题的Lorenz排序规则的改进
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2022-12-05 DOI: 10.1111/ijet.12366
Miguel Ángel Mirás Calvo, Iago Núñez Lugilde, Carmen Quinteiro Sandomingo, Estela Sánchez Rodríguez
{"title":"Refining the Lorenz-ranking of rules for claims problems on restricted domains","authors":"Miguel Ángel Mirás Calvo,&nbsp;Iago Núñez Lugilde,&nbsp;Carmen Quinteiro Sandomingo,&nbsp;Estela Sánchez Rodríguez","doi":"10.1111/ijet.12366","DOIUrl":"10.1111/ijet.12366","url":null,"abstract":"<p>The comparison of the central rules for claims problems, according to the Lorenz order, has been studied not only on the entire set of problems but also on some restricted domains. We provide new characterizations of the adjusted proportional rule as being Lorenz-maximal or Lorenz-minimal within a class of rules on the half-domains. Using this result, we rank the adjusted proportional, the minimal overlap, and the average-of-awards rules by analyzing whether or not these rules satisfy progressivity and regressivity on the half-domains. We also find that the adjusted proportional rule violates two well-known claim monotonicity properties.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"19 3","pages":"526-558"},"PeriodicalIF":0.5,"publicationDate":"2022-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ijet.12366","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46302477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信