This paper examines how the bargaining over the content of each firm's delegation contract influences the relation between the equilibrium market structure and the most preferred market structure from the view point of total social welfare in an international oligopoly under the segmented market...

This paper analyzes a duopolistic model wherein each firm׳s owner can hire a biased manager for strategic reasons. We focus on the situation wherein each firm׳s owner evaluates the performance of her/his manager on the basis of her/his relative profit, which is equal to the weighted sum of...