contracts. We then apply our results to insurance, managerial incentive pay and corporate governance. … information, so that the model also exhibits adverse selection. We characterize the optimal menu of contracts; while its detailed …

to vertically integrate when firms on both segments negotiate optimal contracts. We argue that tougher competition …This paper analyses the impact of competition among downstream firms on an upstream firm's payoff and on its incentive … firm is better off encouraging competition when the downstream firms have high bargaining power. We derive implications on …

transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the … innovations. Our analysis provides a rationale for the use of contingencies (specifically, patent approval) in VC contracts …

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 …

risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition …. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms …. Finally, proactive competition policies will be necessary to resist the powerful forces for vertical and horizontal …

In February 2008, British Telecommunications (BT) introduced automatically renewing, or ‘rollover’, contracts into the … UK market for fixed-voice telephone service. These contracts included a 12-month Minimum Contract Period (MCP) with … dataset, we measure the impact of rollover contracts on BT customers’ decision to switch to another provider. We find that …

We develop and estimate a model of dynamic interactions in which commitment is limited and contracts are incomplete to … each other through both formal contracts and informal agreements, that is, self-enforcing agreements specifying voluntary … to self-enforcement bind with positive probability and formal contracts are used to reduce this probability. …