crucial novel feature is the competition between lenders in their choice of contracts offered. The quality of investment … distribute themselves across all offered contracts. Competition between banks introduces three possibilities for a breakdown of …

A large theoretical literature shows that competition reduces banks' franchise values and induces them to take more … account, a U-shaped relationship between competition and the risk of bank failure generally obtains. …

This Paper presents a dynamic model of imperfect competition in banking where banks can invest in a prudent or a …

Recent human capital theories predict that labor market frictions and product market competition influence firm …, product market competition does not have an effect on firm-sponsored training. We conclude that increasing competition through …

The paper shows that an increase in competition has two effects on managerial incentives: it increases the probability … where increased competition unambiguously reduces managerial slack. In general, however, this relation need not be monotonic … enter the market, but will eventually decrease when competition becomes too intense. …

We study the effects of reputation and competition in a stylized market for experience goods. If interaction is …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely. …

This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of … compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most … perfect competition, the resulting efficiency loss can be larger than that imposed by a single firm or principal, who distorts …