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SUMMARY:Make-or-Buy Versus Make-and-Sell: The Trade-off between Economics 
 of Scale and Specialisation - Professor Markus Reisinger\, Frankfurt Schoo
 l of Finance and Management
DTSTART:20241204T150000Z
DTEND:20241204T160000Z
UID:TALK225343@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:This paper studies the make-or-buy decisions of firms that req
 uire a common input but have different ideal input characteristics. Firms 
 can outsource input production either to one of the firms themselves or to
  a third party. We show that outsourcing to a third party can occur althou
 gh this party does not add value to the industry.\n\nThe rationale is that
 \, if input contracts are incomplete\, a third party balances the demands 
 for specialisation and the benefits from economies of scale in a better wa
 y than firms do. We further find that the payoff of the third party is non
 -monotonic in its bargaining power. We also characterise under which condi
 tions make-or-buy decisions are distorted from the efficient ones.\n\nPlea
 se note\, all our research seminars can be found on the CJBS website:\n"CJ
 BS Research Seminars":https://www.jbs.cam.ac.uk/events/?term=&category=+32
 63&audience=&location=&date=&pagination=1
LOCATION:LT1\, Cambridge Judge Business School
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