In this paper, the author demonstrates, through an example, that, in oligopolistic markets, it is only in special cases that warranties can serve as signals of quality. Warranties are perfect signals only in cases in which the intrinsic attributes of products are neither too clustered nor too...

In oligopolistic markets where competition is in prices, producers may prefer to be represented by agents that sell their products, even if those agents do not provide any direct services to promote the sale of the product and even if contracting is costly. Contracting with the agents serves as...

When firms choose the characteristic of their products before output is produced, imperfectly competitive firms may use this characteristic strategically so as to reduce the output level produced by the rival. Using a simple two-stage duopoly model, the author demonstrates that such "strategic"...