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Full-Text Articles in Social and Behavioral Sciences
Competition And Investment - A Unified Approach, Armin Schmutzler
Competition And Investment - A Unified Approach, Armin Schmutzler
Armin Schmutzler
Using a simple but general two-stage framework, this paper identifies the circumstances under which increasing competition leads to more cost-reducing investments. The framework can, for instance, capture increasing substitutability for different types of oligopoly models or changes from Cournot to Bertrand competition. The paper identifies four transmission mechanisms by which competition affects investment. For a firm with lower initial marginal costs (higher efficiency), a positive effect of competition on investment is more likely. Positive spillovers support a negative effect of competition on investment. The relation between competition and Investment is not affected in an unambiguous way by the level of …
Rise Of The Intercontinentalexchange And Implications Of Its Merger With Nyse Euronext, Latoya C. Brown
Rise Of The Intercontinentalexchange And Implications Of Its Merger With Nyse Euronext, Latoya C. Brown
Latoya C. Brown, Esq.
This paper examines the impending merger between the IntercontinentalExchange (ICE) and NYSE Euronext against the backdrop of the current structure of the global financial services industry. The paper concludes that the merger embodies what the financial services industry is becoming and captures the model that will allow exchanges to remain competitive in today’s marketplace: mega-exchanges with broader asset classes and electronic platforms. As technology and globalization threaten their vitality, exchanges will need to continue reinventing and adapting. Increasingly over the last decade they have done so by merging and by moving, at least a part of, their operations on screen. …
The Competition Act Of 2010: What Effect Will The Act Likely Have On The Supply And Prices Of Goods And Services In Malaysia?, Bryane Michael
The Competition Act Of 2010: What Effect Will The Act Likely Have On The Supply And Prices Of Goods And Services In Malaysia?, Bryane Michael
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
This presentation provides an overview of the likely effects of Malaysia's 2010 Competition Act.