Product design in monopolistic competition

We consider a model of monopolistic competition where producers can manipulate an elasticity parameter at an early stage. We interpret this as a choice of product specialization. Lower marginal costs of production lead to more generic products in all equilibria, which lead to fewer varieties under free-entry. Entry of a new firm increases overall specialization and increases prices, that is, the environment exhibits price-increasing competition. The loss of consumer surplus due to higher prices and lower consumption is compensated by the value of additional variety, hence entry also increases consumer surplus. Therefore, price-increasing competition need not be anticompetitive under endogenous specialization.     

Internationalization journey of healthcare providers: The case of Turkish Acıbadem healthcare group

The advances in technology and global deregulation have led to the progressive internationalization of professional services, notably, the healthcare industry. The present case study examines the remarkable internationalization journey of Acibadem Healthcare Group (AHG) by scrutinizing the dynamics and outcomes of the agile and innovative strategies which propel their achievements. The case of AHG shows that successful internationalization in the service industry, in general, and healthcare, in particular, is not solely in the domain of large, established companies from advanced economies, but those ventures with liabilities of origin, newness, and size can also succeed with smart strategies and resourceful leveraging of their competitive advantages. The study provides unique insights on strategic management for successful internationalization of the healthcare services within an emerging market context and suggests future research avenues in this fast-growing field of inquiry.     

An axiomatic re-characterization of the Kemeny rule

Review of Economic Design - The Kemeny rule is one of the well studied decision rules. In this paper we show that the Kemeny rule is the only rule which is unbiased, monotone, strongly...