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RAND Journal of Economics articles from December 2000
An academic journal featuring articles on macroeconomics. Focuses on industrial organization, regulation, law and economics. Includes empirical and theoretical papers analyzing market behavior and public policy.
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RAND Journal of Economics archives from December 2000
Exclusive contracts and protection of investments.
December 22, 2000... We consider the effect of a renegotiable exclusive contract restricting a buyer to purchase from only one seller on the levels of noncontractible investments undertaken in their relationship. Contrary to some informal claims in the literature,...
Customer poaching and brand switching.
December 22, 2000... Firms sometimes try to "poach" the customers of their competitors by offering them inducements to switch. We analyze duopoly poaching under both short-term and long-term contracts assuming either that each consumer's brand preferences are fixed...
Stretching firm and brand reputation.
December 22, 2000... I consider an adverse selection model of product quality. Consumers observe the performance of the firm's products, and product performance is positively related to the firm's (privately observed) quality level. If a firm is to launch a new...
Assessing the contribution of venture capital to innovation.
December 22, 2000... We examine the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred...
Visionaries, managers, and strategic direction.
December 22, 2000... Incentives for profitable innovation may be enhanced by employing a "visionary" CEO whose "vision" biases him in favor of certain projects. CEO vision changes which projects get implemented and thus affects the incentives of employees who can...
Vertical foreclosure with the choice of input specifications.
December 22, 2000... We develop an equilibrium model of vertical foreclosure with the choice of input specifications. Vertical foreclosure occurs as the upstream division of the integrated firm makes a specialized input for its sister downstream division while it...
Dynamics of price regulation.
December 22, 2000... We study the dynamics of price regulation for an industry adjusting to exogenous technological progress. First, we characterize the optimal capacity path and replacement cycles in a neoclassical investment model. Second, we show that naive...
Auctions with downstream interaction among buyers.
December 22, 2000... We study an auction whose outcome influences the future interaction among agents. The impact of that interaction on agent i is assumed to be a function of all agents' types (which are private information at the time of the auction). Explicit...