uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition … private signals or more correlation among the costs parameters. In fact, for large values of noise or correlation supply …

A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have … with more noise in the private signals or more correlation among the costs parameters. In fact, for large values of noise …

This paper studies the costs and benefits of delegating decisions to superiorly informed agents relative to the use of … play then an important role in determining the costs of delegation. The main focus of the paper lies indeed in the analysis … of these costs and the consequences for whether or not delegation is optimal. We determine and characterize the …

model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to … the standard search and matching model. -- monetary persistence ; labor market ; hiring and firing costs …

enforcement probabilities and decreases in financing costs proportional to the time needed for trade. Empirical results from …