managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …

market power. Multiple precision medicine market situations now resemble game theory constructs such as the prisoners …

This paper extends the static analysis of oligopoly structure into an infinite-horizon setting with sunk costs and …

There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior …

than its static analog. We then test the theory using monthly production targets of the Big Three U.S. auto manufacturers …

absence of a common shock, using optimal independent contracts dominates using the optimal tournament. Conversely, if the … distribution of the common shock is sufficiently diffuse, using the optimal tournament dominates using optimal independent … but uses the optimal tournament, does as well as one who can observe the shock and uses independent contracts …

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 …