Testing whether predatory commitments are credible

Article Abstract:

Several game theoretic papers that appeared in the 1980s argued that predatory price cutting can be profitable. They asserted that an incumbent firm with asymmetric information can benefit from the manipulation of the beliefs of potential entrants regarding the returns to entry. Because there is a shortage of empirical evidence supporting this view, a study was conducted comparing managerial compensation and entrenchment rates for 28 firms accused of predation spanning four decades with another group not charged with predatory behavior. Results found no proof that allegedly predatory firms are structured as these game-theoretic papers suggest. In fact, the reverse was found to be true. Chief executives of supposedly predatory firms sustained lower compensation when short-term profits dropped. Compensation did not increase when output expanded. Lastly, the CEOs of alleged predatory firms were not more entrenched than other CEOs.

Research, Chief executive officers, Price cutting

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The third inter-Yemeni war and its consequences

Article Abstract:

The third inter-Yemeni war between the two factions of the armed forces that began on May 5, 1994 has resulted in the deepening of Yemen's economic and social crisis, political instability within the northern regime and opposition to northern conquest within the south. The chance which Yemen had, after unification, to develop its own political and economic system has been lost. Internationally, its relations with the Arab and the international communities has worsened. It remains to be seen whether the Sana'a regime can manage the crisis which this war has accentuated.

International relations, Civil war, Economic history, Social history, Yemen, Arab countries, Yemeni foreign relations

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What's for breakfast?

Article Abstract:

Breakfast foods and restaurants are described in cities around the world. Included are New York City, NY; Eastern PA; Sicily, Italy; Tokyo, Japan; Berlin, Germany; London, England; Paris, France; and Hanoi, Vietnam.

Portrayals, Breakfasts

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