Browsing by Duke-affiliated Author "Lewis, Tracy R."

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  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 2001)
    In a previously published article in this Review, Rohan Pitchford (1995) develops an interesting model of lender liability and derives an intriguing finding. He shows that when lenders are held liable for the social damages ...
  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 1992)
    We examine the design of incentive programs to motivate regulated utilities to supply both basic service (e.g., electricity supply, local telephone service) and service enhancements (e.g., energy-conservation services, ...
  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 1989)
    In practice, contracts involve "standard terms" or "rules," allowing for variations only under "exceptional" circumstances. We develop a simple model in which optimal contracts display this feature, even in the absence of ...
  • Lewis, Tracy; Yildirim, Huseyin (SSRN eLibrary, 2005)
    This article examines the use of switching costs by long-lived strategic buyers to manage dynamic competition between rival suppliers. The analysis reveals how buyers may employ switching costs to their advantage. We show ...
  • Brander, James A.; Lewis, Tracy (The American Economic Review, 1986)
    We argue that product markets and financial markets have important linkages. Assuming on oligopoly in which financial and output decisions follow in sequence, we show that limited liability may commit a leveraged firm to ...
  • Lewis, Tracy (The American Economic Review, 1983)
    A central concern of industrial organization literature is to determine if markets dominated by a leading producer tend to remain that way when entry by rival firms is possible. In particular, suppose market entry is ...
  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 1988)
    Optimal regulatory policy is derived in a setting where the firm has better knowledge of demand than the regulator. When marginal production costs increase with output, the regulator can induce the firm to use its private ...
  • Lewis, Tracy; Perry, Martin K.; Sappington, David E. M. (1989)
    This article will examine the implications of enforcing specific performance for attempted breach of contract in a model of renegotiation. It will be shown that after the supplier receives relevant private information, ...
  • Lewis, Tracy (Econometrica, 1982)
    Kemp and Long demonstrated that it may be preferable to exploit high and low cost resource deposits simultaneously and not in sequence as is typically assumed in the resources literature. They show that it is desirable to ...