File Download
  Links for fulltext
     (May Require Subscription)
Supplementary

Article: When does competition lead to efficient investments?

TitleWhen does competition lead to efficient investments?
Authors
KeywordsBargaining
Incomplete contracts
Market competition
Ownership
Issue Date2007
PublisherBerkeley Electronic Press. The Journal's web site is located at http://www.bepress.com/bejte/
Citation
B.E. Journal Of Theoretical Economics, 2007, v. 7 n. 1, article no. 27 How to Cite?
AbstractThe paper studies agents' general or specific investment decisions under different ownership structures in a thin, decentralized market where each agent's decision affects the decisions and welfare of other agents mainly through indirect market linkages. It focuses on the roles of both competition and ownership. An investor is more likely to make specific investments as an employee than as an owner. "Excess competition among investors" makes efficient, specific investments more likely. Otherwise, inefficient, general investments and irrelevance of ownership are more likely to result. The problem in which the choice variable is investment level, instead of investment type, yields less contrasting results. Copyright © 2007 The Berkeley Electronic Press. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/85571
ISSN
2015 Impact Factor: 0.412
2015 SCImago Journal Rankings: 0.458
References

 

DC FieldValueLanguage
dc.contributor.authorChatterjee, Ken_HK
dc.contributor.authorChiu, YSen_HK
dc.date.accessioned2010-09-06T09:06:42Z-
dc.date.available2010-09-06T09:06:42Z-
dc.date.issued2007en_HK
dc.identifier.citationB.E. Journal Of Theoretical Economics, 2007, v. 7 n. 1, article no. 27en_HK
dc.identifier.issn1935-1704en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85571-
dc.description.abstractThe paper studies agents' general or specific investment decisions under different ownership structures in a thin, decentralized market where each agent's decision affects the decisions and welfare of other agents mainly through indirect market linkages. It focuses on the roles of both competition and ownership. An investor is more likely to make specific investments as an employee than as an owner. "Excess competition among investors" makes efficient, specific investments more likely. Otherwise, inefficient, general investments and irrelevance of ownership are more likely to result. The problem in which the choice variable is investment level, instead of investment type, yields less contrasting results. Copyright © 2007 The Berkeley Electronic Press. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherBerkeley Electronic Press. The Journal's web site is located at http://www.bepress.com/bejte/en_HK
dc.relation.ispartofB.E. Journal of Theoretical Economicsen_HK
dc.rightsThe B E Journal in Theoretical Economics. Copyright © Berkeley Electronic Press.en_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectBargainingen_HK
dc.subjectIncomplete contractsen_HK
dc.subjectMarket competitionen_HK
dc.subjectOwnershipen_HK
dc.titleWhen does competition lead to efficient investments?en_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1935-1704&volume=&spage=&epage=&date=2007&atitle=When+Does+Competition+Lead+to+Efficient+Investments?en_HK
dc.identifier.emailChiu, YS: sywchiu@hku.hken_HK
dc.identifier.authorityChiu, YS=rp01057en_HK
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.2202/1935-1704.1220-
dc.identifier.scopuseid_2-s2.0-35649018781en_HK
dc.identifier.hkuros129144en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-35649018781&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume7en_HK
dc.identifier.issue1en_HK
dc.identifier.spagearticle no. 27-
dc.identifier.epagearticle no. 27-
dc.identifier.eissn1935-1704-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridChatterjee, K=7202877560en_HK
dc.identifier.scopusauthoridChiu, YS=7202775090en_HK

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats