A Note on Managerial Delegation with Asymmetric and Convex Costs
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DOI: 10.1002/mde.2773
Abstract: In this note, we investigate if the standard result by the managerial delegation literature, i.e., the sub‐game perfect Nash equilibrium is not Pareto‐optimal from the firms' viewpoint, still applies when asymmetric and convex costs are… read more here.
Keywords: note managerial; managerial delegation; delegation; convex costs ... See more keywords
Ex-post price stability with convex costs
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DOI: 10.1007/s00182-017-0599-1
Abstract: Homogeneous goods markets with convex costs, do not generally possess Bertrand-Nash equilibria in pure strategies. In order to identify ex-post stable prices in such markets, the set of outcomes feasible in Bertrand competition are analysed… read more here.
Keywords: post stable; price; price stability; stability convex ... See more keywords