Forward induction and the excess capacity puzzle: An experimental investigation

While the theoretical industrial organization literature has long arguedthat excess capacity can be used to deter entry into markets, there islittle empirical evidence that incumbent firms effectively behave in thisway. Bagwell and Ramey (1996) propose a game with a specific sequence ofmoves and partially-recoverable capacity costs in which forward inductionprovides a theoretical rationalization for firm behavior in the field. Weconduct an experiment with a game inspired by their work. In our data theincumbent tends to keep the market, in contrast to what the forwardinduction argument of Bagwell and Ramey would suggest. The results indicatethat players perceive that the first mover has an advantage without havingto pre-commit capacity. In our game, evolution and learning do not driveout this perception. We back these claims with data analysis, atheoretical framework for dynamics, and simulation results.

Financing constraints and fixed-term employment contracts

This paper studies the interactions between financing constraints and theemployment decisions of firms when both fixed-term and permanent employmentcontracts are available. We first develop a dynamic model that shows theeffects of financing constraints and firing costs on employment decisions. Oncecalibrated, the model shows that financially constrained firms tend to use moreintensely fixed term workers, and to make them absorb a larger fraction of thetotal employment volatility than financially unconstrained firms do. We testand confirm the predictions of the model on a unique panel data of Italian manufacturingfirms with detailed information about the type of workers employedby the firms and about firm financing constraints.

Iowa Department of Transportation Office of Contracts Letting Summary - Fiscal 2008

Report of the letting activity of the Iowa Department of Transportation's Office of Contracts required by Iowa Code Section 307.12(15).

Forward, Spring 2009

Newsletter for the Iowa Commission on the Status of Women. Forward is the new quarterly newsletter published by the Iowa Commission on the Status of Women. We are sure that you will continue to find information of use for Iowa’s women and girls.

Forward, Summer 2009

Newsletter for the Iowa Commission on the Status of Women. Forward is the quarterly newsletter published by the Iowa Commission on the Status of Women. We are sure that you will continue to find information of use for Iowa’s women and girls.

Forward, Fall 2009

Newsletter for the Iowa Commission on the Status of Women. Forward is the quarterly newsletter published by the Iowa Commission on the Status of Women. We are sure that you will continue to find information of use for Iowa’s women and girls.

Iowa Department of Transportation, Office of Contracts Letting Summary, July 1, 2008 - June 30, 2009

Twelve regularly scheduled lettings and nine emergency/special lettings were held by the Iowa Department of Transportation for construction and maintenance work during the period covered by this report. At these lettings, projects totaling $1,030,584,566 were approved.

Forward, Spring 2010

Newsletter for the Iowa Commission on the Status of Women. Forward is the quarterly newsletter published by the Iowa Commission on the Status of Women. We are sure that you will continue to find information of use for Iowa’s women and girls.

Forward, Summer 2010

Newsletter for the Iowa Commission on the Status of Women. Forward is the quarterly newsletter published by the Iowa Commission on the Status of Women. We are sure that you will continue to find information of use for Iowa’s women and girls.

Forward, Fall 2010

Newsletter for the Iowa Commission on the Status of Women. Forward is the quarterly newsletter published by the Iowa Commission on the Status of Women. We are sure that you will continue to find information of use for Iowa’s women and girls.

Iowa Department of Transportation, Contracts Accepted, April 4, 2011

Contracts Accepted by Iowa Department of Transportation

Iowa Department of Transportation, Contracts Accepted, March 21, 2011

Contracts Accepted by Iowa Department of Transportation

Iowa Department of Transportation, Contracts Accepted, March 28, 2011

Contracts Accepted by Iowa Department of Transportation

Civil Rights, Iowa Department of Contracts, March 15, 2011, Vol. 1, no. 1

Newsletter produced by the Iowa Department of Contract for Iowa Department of Transportation, on civil rights.

Contracts Accepted, Iowa Department of Transportation, March 28, 2011

Contracts Accepted for letting reports from the Iowa Department of Transportation.