Englmaier, Florian
(2010):
Managerial Optimism and Investment Choice.
In: Managerial and Decision Economics, Bd. 31, Nr. 4: S. 303-310
DOI: 10.1002/mde.1498
Externer Volltext: http://onlinelibrary.wiley.com/doi/10.1002/mde.1498/abstract
Abstract
This paper analyzes whether it might be desirable for a firm to hire an overoptimistic manager to commit to a certain R&D strategy. I consider a Cournot model with an ex-ante R&D stage where firms can invest in cost reduction before product market competition takes place. I show that firms want to hire overoptimistic managers and argue that a manager's type may serve as a substitute for strategic delegation via contracts. © 2010 John Wiley & Sons,Ltd.
| Dokumententyp: | Zeitschriftenartikel |
|---|---|
| Publikationsform: | Publisher's Version |
| Fakultät: | Volkswirtschaft
Volkswirtschaft > Lehrstühle > Seminar für Organisationsökonomik |
| Themengebiete: | 300 Sozialwissenschaften > 330 Wirtschaft |
| ISSN: | 0143-6570 |
| Sprache: | Englisch |
| Dokumenten ID: | 22026 |
| Datum der Veröffentlichung auf Open Access LMU: | 01. Dez. 2014, 14:51 |
| Letzte Änderungen: | 04. Nov. 2020, 13:02 |
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