Search results for "competition."
showing 10 items of 1367 documents
Economic value, competition and financial distress in the european banking system
2012
Abstract In this paper we examine the impact of a large number of factors at the bank level (liquidity and credit risks, asset size, income diversification and market power), at the industry level (banking concentration) and macro-level (real GDP growth) on bank financial distress using an unbalanced panel of 308 European commercial banks between 1996 and 2009. The observations falling below a given threshold of the empirical distribution of the Shareholder Value Ratio proxy bank financial distress. We employ a panel probit regression and, given the presence of overlapping data giving rise to residual autocorrelation, we use the Bertschek and Lechner (1998) robust estimator of the covarianc…
Sidney Armor Reeve: Engineer, Inventor, Progressive, and Underappreciated Utopian
2022
Sidney Armor Reeve, professional engineer and amateur historian, economist, and sociologist, writing during what has been described as the Progressive Era, at-tacked the very foundations of the existing economic and social orders. He explic-itly criticized the dominant commercialism of the capitalist society as being a can-cer, a major cause of inequality and unemployment, offering instead a program of reform that, while some reviewers characterized it as consistent with the program of the socialists, presented something of an alternative vision, one recognizing the primacy of the Ultimate Consumer. His remedy, favoring as it did the central con-trol of the economy, shared at least commonal…
International competition in the first wave of globalization: new evidence on the margins of trade
2015
We pose a seemingly ageless question in economic history. To what extent did new entrants in the late nineteenth‐century cotton‐textile industry threaten the customary markets of the European core? Exploiting a newly constructed dataset on textile imports to Spain, we find that as trade costs fell, new rivals began to sell a greater variety of products. Along this dimension, competition can be said to have increased. In response, producers in Europe adjusted the type and number of goods exported. By 1914, specialization mapped onto endowments of skilled labour, capital, and access to raw materials. While firms in new industrializing countries exported low‐end varieties, incumbents in the co…
The Classical Notion of Competition Revisited
2013
This article seeks to fill a lacuna within classical economics concerning the process of market price determination in situations of market disequilibrium. To this aim, first we distinguish the classical notion of free competition from the Walrasian notion of perfect competition and we argue that the latter is beset with some theoretical difficulties alien to the former. Second, we reconstruct in some detail Smith’s and Marx’s views concerning market price determination and show that Marx’s extensive use of metaphors and numerical examples foreshadows the modern taxonomy of buyers’ market, sellers’ market, and mixed strategy equilibrium in the capacity space of a standard Bertrand duopoly m…
Measuring consumers’ level of satisfaction for online food shopping during COVID-19 in Italy using POSETs
2021
Abstract The pandemic COVID 19 has upset the economic, social, financial, and general behavioral systems. Global crisis has a large impact overall and related fallouts significantly affect existent structural paradigms in every country and region across the world. In particular, the spread of COVID-19 pandemic has led to having to rethink the way we produce and consume food. Within this global change, a rise in the number of consumers who purchase food products online in order to comply with the rules aimed at limiting the circulation of the virus should be emphasized. Consequently, probably causing a long-term positive effect on m-commerce. The purpose is to elaborate on the index of the s…
Cultural Distance and International Trade in Services: A Disaggregate View
2020
Abstract In this paper, we estimate the effect of “cultural distance” on bilateral trade in services. The measure of cultural distance we use is based on scores that reflect country averages of individuals’ attitudes towards inequality, self-orientation, competition, uncertainty, traditions, and indulgence. Controlling for standard ingredients of gravity equations, we show that an aggregate measure of cultural distance has a significantly negative effect on total bilateral services trade. Once we take a more disaggregate view, we find that the strength of this effect differs across various types of services and various aspects of cultural distance.
Remote sensing:A case for moving space data towards the public good
2008
This paper discusses whether current international and national regulation of remote sensing activities achieves a true balance between proprietary interests of producers of remote sensing data and information and the needs of the community in accessing that data and information. By subjecting remote sensing data to general copyright restrictions that are often coupled with exclusive licences, irrespective of type or use of data and/or information, the development of important secondary information markets could be negatively hampered. In the long run, over-regulating access to space data may prove counter-productive in the information age. Using examples of different modes of information d…
The Taxation of Financial Capital Under Asymmetric Information and the Tax-Competition Paradox
2003
Information sharing between governments is examined in an optimal-taxation framework. We introduce a taxonomy of alternative systems of international capital-income taxation and characterize the choice of tax rates and information exchange. The model reproduces the conclusion found in earlier literature that integration of international caopital markets may lead to the under-provision of publicly provided goods. However, in contrast to previous results in the literature, under-provision occurs due to inefficiently coordinated expectations. We show that there exists a second equilibrium with an efficient level of public-good provision as well as complete and voluntary information exchange be…
Decentralization and growth: what if the cross-jurisdiction approach had met a dead end?
2013
International audience; The relationship between decentralization and economic growth is generally studied from a perspective stressing universal or quasi-universal regularities across jurisdictions. That approach has generated many insights but seems to reach its limits. The paper explains why it allows contrasting positions with regard to the benefits of decentralization even among proponents of free and competitive markets. And it seems from the empirical literature that no robust and economically significant cross-jurisdiction relation between decentralization and economic performance or growth, except perhaps their independence, has been found. The absence of a relation valid across ju…
More firms, more competition? The case of the fourth operator in France's mobile phone market
2010
Accepted, Forthcoming; International audience; To foster competition the French government authorized a fourth operator, ‘Free', to enter the country's mobile phone market at the end of 2009 alongside Orange, SFR and Bouygues Telecom (BT), who held respectively one-half, one-third and one-sixth of the market. By using a stylized model of France's phone market, we have examined what we call the regulator's nightmares and dreams. If Cournot competition is in place before Free's entry, minimizing the total profit fails to maximize the consumer surplus and the total surplus; the maximum most realistic price fall is 6.7% compared to three-way competition and could be 1.7% only; if Orange, SFR an…