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 …

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 …

complements this pattern is reinforced while under competition in substitutes the principals trade off the benefits of …

We study competition in price-quality menus when consumers privately know their valuation for quality (type), and are … intensity, from perfect competition to monopoly. …

losses is 1/n². The results extend to demand schedule competition and a range of applications in product and …

A central insight of agency theory is that when a principal offers a contract to a privately informed agent, the … particular, we investigate settings with both exogenous and endogenous information structures. We find that theory is indeed a …

suppliers to exclude them from trade to better extract rents from agents with lower cash-flows. We also show that competition in …