The effects of disclosure regulation on innovative firms: common values
Abstract: "Firms in an R&D race actively manage rivals' beliefs by disclosing and concealing information on their cost of investment. The firms' disclosure strategies affect their incentives to invest in R&D, and to acquire information. We compare...
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Abstract: "Firms in an R&D race actively manage rivals' beliefs by disclosing and concealing information on their cost of investment. The firms' disclosure strategies affect their incentives to invest in R&D, and to acquire information. We compare equilibria under voluntary disclosure with those under mandated disclosure in a model with perfect positive correlation among the firms' cost of investment. Under voluntary disclosure firms disclose bad news, and conceal good news to discourage their rival. Under mandatory disclosure firms typically expect higher profits for given information acquisition investments, but they acquire less information." (author's abstract)
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Insisting on a non-negative price
oligopoly, uncertainty, welfare, and multiple equilibria
Theorienreduktion in den Sozialwissenschaften: eine Fallstudie am Beispiel der Balancetheorien
Abstract: A central topic both in philosophy of science as well as in the empirical sciences is the reconstruction of the relations between theories. In the past comparisons of theories by means of traditional linguistic methods have proved to be...
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Abstract: A central topic both in philosophy of science as well as in the empirical sciences is the reconstruction of the relations between theories. In the past comparisons of theories by means of traditional linguistic methods have proved to be extremely difficult and complicated. In this article the reconstruction of intertheoretical relations based on model-theoretical terms is propagated, as formulated within the structuralist view of theories. The efficiency of a model theoretical based comparison of theories is demonstrated by two theory elements from the social science research program of balance theories: The basic element by Heider and the transitivity theory by Holland and Leinhardt. First of all both theory elements are introduced informally and reconstructed in the structuralist format. On the basis of these reconstructions can be shown, that the Heider theory can be formally reduced to the Holland-Leinhardt theory and that the theory younger in history means an improvement. How
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Forschungsprogramm und Evolution der Balancetheorien: eine diachrone Theorienanalyse auf Basis der strukturalistischen Wissenschaftstheorie
Abstract: In dem Beitrag wird die Entwicklung der Gleichgewichtstheorien in der Tradition von Fritz Heider rekonstruiert. Die untersuchte Fragestellung ist, ob die historische Folge von Balancetheorie als Forschungsprogramm bzw. Theorieevolution...
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Abstract: In dem Beitrag wird die Entwicklung der Gleichgewichtstheorien in der Tradition von Fritz Heider rekonstruiert. Die untersuchte Fragestellung ist, ob die historische Folge von Balancetheorie als Forschungsprogramm bzw. Theorieevolution angesehen werden kann und einen wissenschaftlichen Fortschritt darstellt. Den metatheoretischen Rahmen bildet die strukturalistische Theoriekonzeption. Nach dem hier leicht modifizierten strukturalistischen Evolutionsbegriff müssen historisch aufeinanderfolgende Theorien durch intertheoretische Relationen wie Spezialisierungs- oder Reduktionsbeziehungen verbunden sein. Zunächst werden beispielhaft zwei balancetheoretische Theorie-Elemente rekonstruiert: die Ausgangstheorie von Heider und die Transitivtätstheorie von Holland und Leinhardt. Auf der Basis dieser Rekonstruktionen läßt sich zeigen, daß die Heider-Theorie auf die Holland-Leinhardt-Theorie formal reduziert werden kann und die historisch jüngere Theorie einen Fortschritt darstellt. Anschließ
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Insisting on a non-negative price: oligopoly, uncertainty, welfare, and multiple equilibria
Abstract: "I study Cournot competition under incomplete information about demand while assuming that market price must be non-negative for all demand realizations. Although this assumption is very natural, it has only rarely been made in the earlier...
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Abstract: "I study Cournot competition under incomplete information about demand while assuming that market price must be non-negative for all demand realizations. Although this assumption is very natural, it has only rarely been made in the earlier literature. Yet it has important economic consequences: (1) multiple (symmetric, pure strategy) equilibria can exist, despite the fact that demand and cost are linear; and (2) expected total surplus can be larger when the firms do not know demand than when they do, a result which has important implications for the social desirability of information sharing. The arguments of the paper are relevant also for price competition and for uncertainty about, e.g., cost or the number of firms, and these issues are discussed." (author's abstract)
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