settle where taxes are lowest, government are forced "in the splits" (double Bertrand-type tax competition). We assume that … (distorted) labour market and the fiscal game takes the form of competition among strategic intermediaries. Results from the … theory of intermediation are applied to this framework, enabling us to explain why government size may increase rather than …

and competition on the product market. Product innovation is assumed to increase consumer utility but is effective only if … market. In the final stage of the game, they are involved in competition on the product market. Key findings of the …

Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their …

factors could improve advice quality. Besides advisor competition and identifiability we add the possibility for clients to … (leading to several client-advisor interactions over the course of the game) or competition (allowing one advisor to have …