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Intra-Labour Strategic Commitment
thesis
posted on 2021-11-10, 07:25 authored by Nolan, MatthewThis thesis explores a strategic investment motive for the choice of skilled labour (management). Using the case study of department store competition, we argue that management is an observable and irreversible input. This allows firms to use it to obtain a first-mover advantage in oligopolistic interactions. We find that, given complementarities of labour inputs, firms will hire excess management relative to the cost-minimising input bundle. This idea is first illustrated with a simple two-stage example. We then show that over-management also holds in a more realistic setting with infinitely-lived firms facing finite adjustment costs.
History
Copyright Date
2009-01-01Date of Award
2009-01-01Publisher
Te Herenga Waka—Victoria University of WellingtonRights License
Author Retains CopyrightDegree Discipline
EconomicsDegree Grantor
Te Herenga Waka—Victoria University of WellingtonDegree Level
MastersDegree Name
Master of Commerce and AdministrationVictoria University of Wellington Item Type
Awarded Research Masters ThesisLanguage
en_NZVictoria University of Wellington School
School of Economics and FinanceAdvisors
Petkov, Vladimir; Calcott, PaulUsage metrics
Keywords
Pre-commitmentStrategic investmentLabour marketLabor marketSchool: School of Economics and Finance150399 Business and Management not elsewhere classifiedMarsden: 350200 Business and ManagementMarsden: 340207 Labour EconomicsMarsden: 350300 Banking, Finance and InvestmentDegree Discipline: EconomicsDegree Level: MastersDegree Name: Master of Commerce and AdministrationBusiness and Management not elsewhere classified
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