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Sébastien Gadat, and Fabien Panloup
vol. 156, February 2023, pp. 312–348
Emmanuelle Auriol, Sara Biancini, and Rodrigo Paillacar
vol. 162, n. 106072, February 2023
The paper proposes an empirical analysis of the determinants of the adoption of Intellectual Property Rights (IPR) and their impact on innovation in manufacturing. The analysis is conducted with panel data covering 112 countries. First we show that IPR protection is U-shaped with respect to a...
Silvia Rossetto, Nassima Selmane, and Raffaele Staglianò
vol. 50, n. 1-2, February 2023, pp. 377–410
This study analyzes the relationship between mid-sized blockholders and firm risk. We show that ownership structure matters for firm risk beyond the first largest blockholder. Firms with multiple blockholders take more risk than firms with just one blockholder, even when controlling for the stake...
Doh-Shin Jeon, Domenico Menicucci, and Nikrooz Nasr
vol. 15, n. 1, February 2023, pp. 30–73
We study mix-and-match compatibility choices of firms selling complementary products in a dynamic setting. Contrary to what happens in a static setting where symmetric firms choose compatibility (Matutes and Regibeau 1988), when switching costs are high and firms make price discrimination based on...
Stefan Lamp, and Mario Samano
vol. 10, n. 1, January 2023
Policies to incentivize the adoption of renewable energy sources usually offer little flexibility to adapt to heterogeneous benefits across locations. We evaluate the geographical misallocation of solar photovoltaic installations and their relation with the uniform nature of subsidies. We estimate...
Andrea Attar, Eloisa Campioni, and Gwenaël Piaser
vol. 222, n. 110932, January 2023
We study competing-mechanism games, in which multiple principals contract with multiple agents. We reconsider the issue of non-existence of an equilibrium as first raised by Myerson (1982). In the context of his example, we establish the existence of a perfect Bayesian equilibrium. We clarify that...
David Le Bris, and Victor Gay
vol. 18, n. 1, January 2023
Psychological traits display substantial variation worldwide. These psychological variations could be explained by the intensity of kinship ties which, we hypothesize, depends on the reception of innovations that gradually complexified family organizations. These innovations originated from several...
Matthias Efing, Harald Hau, Patrick kampkötter, and Jean-Charles Rochet
vol. 36, n. 1, January 2023, pp. 235–280
We argue that risk sharing motivates the bankwide structure of bonus pay. In the presence of financial frictions that make external financing costly, the optimal contract between shareholders and employees involves some degree of risk sharing whereby bonus pay partially absorbs negative earnings...
Marc Ivaldi, Ambre Nicolle, Frank Verboven, and Jiekai Zhang
vol. 48, January 2023, pp. 43–94
Do new digital consumption channels of music depress sales in old physical ones, or are they complementary? To answer this question, we exploit product-level variation in sales and prices of over 4 million products, observed weekly between 2014 and 2017 for the entire French market. A unique...
Marion Hoffman, Per Block, and Tom Snijders
vol. 53, n. 1, January 2023
Despite the central role of self-assembled groups in animal and human societies, statistical tools to explain their composition are limited. The authors introduce a statistical framework for cross-sectional observations of groups with exclusive membership to illuminate the social and organizational...
