The Tragedy of the Common Holdings. Coordination Strategies and Product Market Competition

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dc.contributor.author Neus, Werner
dc.contributor.author Stadler, Manfred
dc.date.accessioned 2022-08-04T08:27:59Z
dc.date.available 2022-08-04T08:27:59Z
dc.date.issued 2022-08-03
dc.identifier.other 1813403899 de_DE
dc.identifier.uri http://hdl.handle.net/10900/129902
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-dspace-1299028 de_DE
dc.identifier.uri http://dx.doi.org/10.15496/publikation-71264
dc.description.abstract We study quantity and price competition in heterogeneous triopoly markets where two firms are commonly owned by institutional shareholders, whereas the third firm is owned by independent shareholders. With such a mixed ownership structure, the common owners have an incentive to coordinate their firms’ behavior. If direct coordination of the operational decisions is prevented by antitrust authorities, delegation to managers enables indirect coordination via the designs of the manager compensation contracts. Compared to direct owner collusion, this more sophisticated type of indirect collusion leads to a lower loss of social welfare in the mode of quantity competition, but to a higher loss of welfare in the mode of price competition. In general, owner coordination via the management compensation contracts is detrimental to welfare: the tragedy of common holdings. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.source.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.source.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.ddc 330 de_DE
dc.subject.other Manager compensation en
dc.subject.other common holdings en
dc.subject.other shareholder coordination en
dc.title The Tragedy of the Common Holdings. Coordination Strategies and Product Market Competition en
dc.type Article de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
dcterms.DCMIType Text de_DE
utue.opus.portal utwpbusinesseco de_DE
utue.publikation.source University of Tübingen Working Papers in Business and Economics ; No. 154 de_DE
utue.publikation.reihenname University of Tübingen Working Papers in Business and Economics de_DE

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