consensus value is discussed.Finally, two applications of the consensus value are given: one is for oligopoly games in partition …

This paper studies welfare effects of uniform production subsidies in oligopoly markets, comparing cases of asymmetric …

theories of oligopoly predict. …

The paper proposes a theory of the anti-competitive effects of debt finance based on the interaction between capital … that reduce conflicts with debtholders - such as hiring managers with valuable reputations or "conservative" incentives …

This paper examines if international trade can reduce total welfare in an international oligopoly with differentiated …

are paid more than once or are deferred, stock-related compensation packages are strong incentives for managers to support … discounts them on stock prices, reducing managers' short-run gains from any deviation. When deferred, stock-related incentives … may remove all managers' short-run gains from deviation making collusion supportable at any discount factor. The results …

finds that when managers have the preference for smooth time-paths of profits revealed by the evidence on "income smoothing … factor. When managers are in control, "price wars during booms" need not occur: the most collusive price tends to be pro-cyclical. …