Scalera, Domenico; Zazzaro, Alberto - In: Metroeconomica 59 (2008) 1, pp. 27-41
In this paper we investigate the relationship between product market competition and managerial incentives within a circular city model with observable agency contracts. With respect to the case of unobservability studied by <link rid="b13">Raith (2003</link>), we find that optimal managerial contracts provide lower...
