haku: @author Okuno-Fujiwara, M. / yhteensä: 1
viite: 1 / 1
« edellinen | seuraava »
| Tekijä: | Konishi, H. Okuno-Fujiwara, M. Suzuki, Y. |
| Otsikko: | Competition through endogenized tournaments : an interpretation of "face-to-face" competition |
| Lehti: | Journal of the Japanese and International Economies
1996 : SEP, VOL. 10:3, p. 199-232 |
| Asiasana: | COMPETITION GAME THEORY JAPAN |
| Kieli: | eng |
| Tiivistelmä: | This paper presents an alternative solution, called "face-to-face" competition, to the hold-up problem of relation-specific investments in the world of incomplete contracts. By inherent multiplicity of equilibria and incentive-compatible equilibrium selection, a tournament among multiple agents is endogenously created in the structure of face-to-face competition to strenghten their investment incentive. This approach also explains, by the reason other than bargaining power and insurance, why typical auto-assemblers in Japan do not vertically integrate a single parts supplier but transact with two potentially competitive suppliers in their developments on new models. |
« edellinen | seuraava »
SCIMA