optimally prescribe to follow the agent's recommendation. We define two sub-cases, called delegation and authority, being parts … the principal. We assume that there are both adverse selection and moral hazard under delegation and moral hazard under … authority and the agent is risk neutral but protected by limited liability on utility. We find that delegation can be efficient …

services researches. This point of view conceives service activity as a delegation and allows the exploration of two generic …

-mover advantage, so that both firms are active beyond some level of market development. Once both firms hold capacity, tacit collusion … of market development play a crucial role in the determination of competitive behavior: we show that a tacit-collusion …'un certain niveau de développement du marché, les deux firmes sont en activité. Alors, une collusion tacite pour retarder les …