Browsing Departments by Author "Overgaard, Per Baltzer"
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Overgaard, Per Baltzer; Møllgaard, Peter (København, 2005)[More information][Less information]
Abstract: In the economics literature, various views on the likely (efficiency) effects of information exchange, communication between firms and market transparency present themselves. Often these views on information flows are highly conflicting. On the one hand, it is argued that increased information dissemination improves firm planning to the benefit of society (including customers) and/or allows potential customers to make the right decisions given their preferences. On the other hand, the literature also suggests that increased information dissemination can have significant coordinating or collusive potential to the benefit of firms but at the expense of society at large (mainly, potential customers). In this chapter, we try to make sense of these views, with the aim of presenting some simple lessons for antitrust practice. In addition, the chapter presents some cases, from both sides of the Atlantic, where informational issues have played a significant role. URI: http://hdl.handle.net/10398/7533 Files in this item: 1
wp13-2005.pdf (321.1Kb) -
Møllgaard, Peter; Overgaard, Per Baltzer (København, 2001)[More information][Less information]
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foreign investment in emerging marketsMøllgaard, H. Peter; Overgaard, Per Baltzer (København, 1998)[More information][Less information]
Abstract: Asymmetric information and fear of acquiring a 'lemon' may explain the paucity of foreign investment in emerging market economies. If investors are uncertain about the profitability of investments, intrinsically inefficient, temporary partnerships or joint ventures may serve as mechanisms through which information is transmitted. Temporary partnerships with joint in- vestments by the domestic firm and the foreign investor, together with a buy-out option to the investor, can be used to separate good and bad invest- ment prospects in equilibrium. However, non-revealing equilibria may exist. Implications for foreign direct investment are traced and briefly related to the experience of transition economies. Keywords: investment, complementary assets, partnerships, joint ventures and licensing, costly signaling JEL: D8, F2, L14, O12 URI: http://hdl.handle.net/10398/7496 Files in this item: 1
1998_10.pdf (1.238Mb)
Now showing items 1-3 of 3