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作者：Brooks, Richard R. W.; Landeo, Claudia M.; Spier, Kathryn E.
作者单位：Yale University; University of Alberta; Northwestern University
摘要：The operating agreements of many business ventures include clauses to facilitate the exit of joint owners. In so-called Texas Shootouts, one owner names a single buy-sell price and the other owner is compelled to either buy or sell shares at that named price. Despite their prevalence in real-world contracts, Texas Shootouts are rarely triggered. In our theoretical framework, sole ownership is more efficient than joint ownership. Negotiations are frustrated, however, by the presence of asymmetr...
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作者：Serrano, Carlos J.
作者单位：University of Toronto; National Bureau of Economic Research
摘要：This article explores new data on the transfer and renewal of U.S. patents and interprets this new evidence using a model of patent transfers and renewal. We find that the proportion of transferred patents is large and differs across technology fields and especially type of patentees. We also find that the probability of a patent being traded depends on a number of factors-the age of the patent, the number of citations received by a given age, the patent generality, and whether the patent has ...
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作者：Chen, Yongmin; Pearcy, Jason
作者单位：University of Colorado System; University of Colorado Boulder; Zhejiang University; Montana State University System; Montana State University Bozeman
摘要：This article develops a theory of dynamic pricing in which firms may offer separate prices to different consumers based on their past purchases. Brand preferences over two periods are described by a copula admitting various degrees of positive dependence. When commitment to future prices is infeasible, each firm offers lower prices to its rival's customers. When firms can commit to future prices, consumer loyalty is rewarded if preference dependence is low, but enticing brand switching occurs ...
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作者：Davis, Lucas W.; Muehlegger, Erich
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Harvard University
摘要：This article measures the extent to which prices exceed marginal costs in the U.S. natural gas distribution market during the period 1991-2007. We find large departures from marginal cost pricing in all 50 states, with residential and commercial customers facing average markups of over 40%. Based on conservative estimates of the price elasticity of demand, these distortions impose hundreds of millions of dollars of annual welfare loss. Moreover, current price schedules are an important preexis...
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作者：Inderst, Roman; Shaffer, Greg
作者单位：Goethe University Frankfurt; University of Rochester; University of East Anglia; Imperial College London
摘要：This article investigates how the use of contracts that condition discounts on the share a supplier receives of a retailer's total purchases (market-share contracts) may affect market outcomes. The case of a dominant supplier that distributes its product through retailers that also sell substitute products is considered. It is found that when the supplier's contracts can only depend on how much a retailer purchases of its product (own-supplier contracts), intra- and interbrand competition cann...
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作者：Forbes, Silke J.; Lederman, Mara
作者单位：University of California System; University of California San Diego; University of Toronto
摘要：We investigate the effects of vertical integration on operational performance. Large U.S. airlines use regional partners to operate some of their flights. Regionals may be owned or governed through contracts. We estimate whether an airline's use of an owned, rather than independent, regional at an airport affects delays and cancellations on the airline's own flights out of that airport. We find that integrated airlines perform systematically better than nonintegrated airlines at the same airpo...
