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Marcia M Schafgans and Joachim Stibora
We develop a general equilibrium model of multiproduct fi…rms with quality differentiated goods. Households are characterized by an heterogeneous taste for the differentiated good and their income level. The use of non-h...Read more...
1 July 2014
Oriana Bandiera, Iwan Baranky and Imran Rasul
We discuss how the use of field experiments sheds light on long standing research questions relating to firm behavior. We present insights from two classes of experiments: within and across firms, and draw common lessons...Read more...
1 July 2011
Luigi Buzzacchi and Tommaso Valetti
This paper tests the presence of multiple independent submarkets in the Italian motor insurance industry. Independence is motivated by administrative boundaries among provinces and by further locational reasons. We find ...Read more...
Oliver Hart and John Moore
We are concerned with the design of a constitution for a firm - an ex ante contract which assigns residual rights of control (and possibly residual income rights) without reference to the issue to be decided. We focus at...Read more...
This paper addresses the questions of the effects of diversification strategies on firms' profitability. Empirical analyses do not seem to confirm the hypothesis that diversification is the optimal response to the presen...Read more...
Francesca Cornelli and Mark Schankerman
When firms have different R&D productivities, it may be welfare increasing to differentiate patent lives across inventions. The reason is that the uniform patent life provides excessive incentives to do R&D to the low pr...Read more...
This paper examines the evolution of a skew distribution of firm sizes from the viewpoint of the ?Bounds? approach to market structure. It confines attention to the role played by non-strategic factors (statistical indep...Read more...