We examine how quality competition affects the relationship between market size and industry structure at product level using evidence from U.S. hotel industry. Starting in early 1980s, for business travelers became more based on variable less fixed costs, scale intensive. Since then, increases have been met by more, but smaller, hotels travel destinations continued to be larger personal destin...

The increasing level of globalization in cotton has led to a greater need for understanding production and marketing systems of coutries other than our own. Turkey is one important country in terms of the magnitude of total cotton production. This paper addresses the system in Turkey, with some discussion of current and future performance of Turkey in the global cotton market. There are signifi...

This paper provides a thorough analysis of oligopolistic markets with positive demand side network externalities and perfect compatibility. The minimal structure imposed on the model primitives is such that industry output increases in a firm's rivals' total output as well as in the expected network size. This leads to a generalized equilibrium existence treatment that includes guarantees for a...

This study outlines a new theory linking industry structure to optimal employment contracts and executive short-termism. Firms hire their executives using optimal contracts derived within a competitive labour market. To motivate effort firms must use some variable remuneration. Such remuneration introduces a myopia problem: an executive would wish to inflate early expected earnings at some risk...