http://hdl.handle.net/10400.3/1123 Sat, 13 Oct 2018 12:35:44 GMT 2018-10-13T12:35:44Z http://hdl.handle.net/10400.3/4820 Título: A test of collusive behavior based on incentives Autor: Cabral, Ricardo Resumo: This paper proposes a novel collusion test based on the analysis of incentives faced by each firm in a colluding coalition. In fact, once collusion is in effect, each colluding firm faces the incentive to secretly deviate from the agreement, since it thereby increases its profits, although the colluding firms’ joint profit decreases. Thus, in a colluding coalition each firm has marginal revenues, calculated with Nash conjectures, which are larger than its marginal costs. The collusion test is based on the rejection of the null hypothesis that the firm marginal revenues with Nash conjectures are equal to or less than its marginal costs. Tue, 01 Jan 2008 00:00:00 GMT http://hdl.handle.net/10400.3/4820 2008-01-01T00:00:00Z http://hdl.handle.net/10400.3/4819 Título: Some general results about the optimal timing of relocation Autor: Azevedo-Pereira, José; Couto, Gualter; Nunes, Cláudia Resumo: In this paper we derive general results concerning the optimal switching level in the problem of the optimal relocation policy for a firm that faces two types of uncertainty: one about the moments in which new (and more efficient) sites will become available; and the other regarding the degree of efficiency improvement inherent to each one of these new, yet to be known, potential location places. In particular, we note that the optimal switching level depends on the distribution of the degree of efficiency improvement only through an expected value. Impacts on the final results driven by the characteristics of the firm’s original location site, the market environment and the way in which risk is modelled are studied numerically. The overall results are in line with economic intuition. Fri, 01 Feb 2008 00:00:00 GMT http://hdl.handle.net/10400.3/4819 2008-02-01T00:00:00Z http://hdl.handle.net/10400.3/4818 Título: Evaluating a mobile telecommunications merger in Portugal Autor: Andini, Corrado; Cabral, Ricardo Resumo: This paper evaluates the impact of the proposed Optimus-TMN mobile telecommunications merger in Portugal. The results suggest that, if the merger would have taken place, the average market profit margin would have increased by 11.6 percentage points and the average market price would have increased by 3.8%. As a consequence, the average marginal cost would have decreased by 14.9%, and welfare would have increased by €163.3mn per year, a gain entirely captured by the producers. Moreover, the merger would have resulted in a large transfer of surplus from consumers to producers, to the tune of €99.5mn per year. The conclusion is that, while the merger could have been authorized on efficiency grounds, such authorization should have been accompanied by strict retail price-cap merger remedies. Sat, 01 Mar 2008 00:00:00 GMT http://hdl.handle.net/10400.3/4818 2008-03-01T00:00:00Z http://hdl.handle.net/10400.3/4817 Título: Future entrepreneur’s profile Autor: Silva, Francisco; Couto, Gualter; Coelho, Hugo Resumo: Given that entrepreneurship plays a key role in the development of a country’s economy, governments should stimulate entrepreneurial orientation, particularly among youngsters in their formative years; schools must play a pertinent role in the promotion and support of these capacities. Indeed, the European Commission advises that schools foster such skills. In this context, we apply a frame to screen school populations in the Azores Islands, Portugal, for prospects of entrepreneurship and to study the profiles of those who noticeably show entrepreneurial orientations. Knowing the ideal combination of personality traits that foretell young entrepreneurs, schools can develop the syllabuses that are best aimed at promoting entrepreneurship and increasing the capacities of those who prove to be entrepreneurially oriented. This work leads to the following main findings: first, that one quarter of all senior students in high school in the Azores Islands bears prospects for entrepreneurship and, second, this same group shows a well-defined psychological profile that may vary depending on one’s willingness to expend effort. Thu, 01 May 2008 00:00:00 GMT http://hdl.handle.net/10400.3/4817 2008-05-01T00:00:00Z