managers. Employment relations can be either tough (where workers are monitored intensively and obtain few rents, and managers … workplace favor exchange). Both workers and managers also exert effort in providing community benefits. The threat of losing … access to community benefits can motivate managers to keep employment soft; conversely, the threat of losing future …

We study the efficiency of oligopoly equilibria in a model where firms compete over capacities and prices. The … demands across the firms. We first establish the existence of pure strategy subgame perfect equilibria (oligopoly equilibria … oligopoly equilibria of this game can be arbitrarily low. However, if the best oligopoly equilibrium is selected (among multiple …

We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of …

, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …

attention, however. In this paper, we present a simple theory of the emergence and persistence of inefficient states. The …