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The Optimality of Team Contracts
This paper analyzes optimal contracts in a linear hidden-action model with normally distributed returns possessing two moments that are governed jointly by two agents who have negative exponential utilities. They can observe ...
Bargaining over collusion: the threat of supply function versus Cournot competition under demand uncertainty and cost asymmetry
In this paper, we study bargaining over collusion profits in a duopolistic industry with cost asymmetry and demand uncertainty. We consider disagreement payoffs obtained from the non-cooperative equilibrium of either the ...