contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is … only rarely chosen in the experimental markets. This behavior is rational given that managers do not play according to the …

learn the abilities of agents. Theory suggests high first-period equilibrium effort in the hidden ability treatment but no …

The paper presents the concept of an imitation equilibrium and explores it in the context of some simple oligopoly …

We develop a product market theory that explains why firms invest in general training of their workers. We consider a …

characterizes the conditions for which, under Cournot oligopoly, existing firms behave more collusively than in a standard Cournot …