The paper introduces a class of alternating-move infinite-horizon models of duopoly. The
timing is meant to capture the presence of short-run commitments. Markov perfect …

In our increasingly interconnected and open world, international migration is becoming an
important socioeconomic phenomenon for many countries. Since the early 1980s, many …

This book brings together in one place the work of one of our most respected economic
theorists, on a field in which he has played a large part in originating: the New Institutional …

Unternehmen, Märkte und Kooperationen sind zentrale ökonomische Institutionen, deren
Entstehung bislang keinen bedeutenden Raum in der Forschung einnahm. Dabei liefert die …

This article analyzes the duality of prices and quantities in a differentiated duopoly. It is
shown that if firms can only make two types of binding contracts with consumers, the price …

A common observation in the informal literature of economics (and elsewhere) is that is
multistage “games,” players may seek early in the game to acquire a reputation for being …

Comprehensive in scope, Real Options reviews current techniques of capital budgeting and
details an approach (based on the pricing of options) that provides a means of quantifying …

Credible commitments and credible threats share the following common attribute: both
appear mainly in conjunction with irreversible, specialized investments. But whereas …

A firm's actions in one market can change competitors' strategies in a second market by
affecting its own marginal costs in that other market. Whether the action provides costs or …

Economists often argue that predatory practices are irrational, since there exist cheaper or
more certain means to gain or maintain a monopoly. Our gametheoretic, equilibrium …