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- Publisher Website: 10.2202/1935-1704.1220
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Article: When does competition lead to efficient investments?
Title | When does competition lead to efficient investments? |
---|---|
Authors | |
Keywords | Bargaining Incomplete contracts Market competition Ownership |
Issue Date | 2007 |
Publisher | Berkeley 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? |
Abstract | The 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. |
Persistent Identifier | http://hdl.handle.net/10722/85571 |
ISSN | 2023 Impact Factor: 0.3 2023 SCImago Journal Rankings: 0.223 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Chatterjee, K | en_HK |
dc.contributor.author | Chiu, YS | en_HK |
dc.date.accessioned | 2010-09-06T09:06:42Z | - |
dc.date.available | 2010-09-06T09:06:42Z | - |
dc.date.issued | 2007 | en_HK |
dc.identifier.citation | B.E. Journal of Theoretical Economics, 2007, v. 7 n. 1, article no. 27 | en_HK |
dc.identifier.issn | 1935-1704 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/85571 | - |
dc.description.abstract | The 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. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Berkeley Electronic Press. The Journal's web site is located at http://www.bepress.com/bejte/ | en_HK |
dc.relation.ispartof | B.E. Journal of Theoretical Economics | en_HK |
dc.rights | Copyright © 2007 The Berkeley Electronic Press. All rights reserved. The final publication is available at www.degruyter.com | en_HK |
dc.subject | Bargaining | en_HK |
dc.subject | Incomplete contracts | en_HK |
dc.subject | Market competition | en_HK |
dc.subject | Ownership | en_HK |
dc.title | When does competition lead to efficient investments? | en_HK |
dc.type | Article | en_HK |
dc.identifier.email | Chiu, YS: sywchiu@hku.hk | en_HK |
dc.identifier.authority | Chiu, YS=rp01057 | en_HK |
dc.description.nature | published_or_final_version | - |
dc.identifier.doi | 10.2202/1935-1704.1220 | - |
dc.identifier.scopus | eid_2-s2.0-35649018781 | en_HK |
dc.identifier.hkuros | 129144 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-35649018781&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 7 | en_HK |
dc.identifier.issue | 1 | en_HK |
dc.identifier.spage | article no. 27 | - |
dc.identifier.epage | article no. 27 | - |
dc.identifier.eissn | 1935-1704 | - |
dc.identifier.isi | WOS:000256302400006 | - |
dc.publisher.place | United States | en_HK |
dc.identifier.scopusauthorid | Chatterjee, K=7202877560 | en_HK |
dc.identifier.scopusauthorid | Chiu, YS=7202775090 | en_HK |
dc.identifier.issnl | 1935-1704 | - |