We study price competition in heterogeneous markets where price decisions are delegated to agents. Principals implement a revenue sharing scheme to which agents react by commonly charging a sales price. The results of our model exemplify the importance of both intrafirm- and interfirm...

We study interfirm competition on a product market where effort decisions are delegated to the firms' workers. Intrafirm organization is captured by a principal-multiagent framework where firm owners implement alternative compensation schemes for the workers. We show that the value of delegation...

We study interaction effects between intra-firm conflicts and interfirm competition on a duopolistic market with seller firms employing one or more agents and implementing tournament incentives. We show that inter-firm competition leads to higher incentive intensity, higher efforts and output...

This paper analyzes vertical cross-shareholding, that is, the mutual holding of a minority of shares between vertically related firms. First, we explore the issue in a game-theoretic model and show that cross-shareholding is sufficient to obtain efficient outcomes. We then test the model's...

In November, according to the data of business surveys of the Gaidar Institute1, the industry failed to retain the positive impulse of previous months. The negative dynamics of demand failed to live up with enterprises’ expectations as regards the eff ect of import substitution declared by the...

В феврале согласно конъюнктурным опросам Института Гайдара1, восстановление спроса не достигло обычных масштабов, что привело к росту избыточности запасов...

According to business surveys carried out by the Gaidar Institute1, in February recovery of growth failed to attain the normal extent which situation resulted in surplus of stocks of fi nished products in conditions where the dynamics of output was ahead of demand. It is to be noted that...

According to the data of business surveys of the Gaidar Institute, September showed that most indices remained at the same level. The stable dynamics of demand permitted to maintain the previous growth rates of output with invariable estimates of reserves of fi nished products and stable pricing...

We present a model of price leadership on homogeneous product markets where the price leader is selected endogenously. The price leader sets and guarantees a sales price to which followers adjust according to their individual supply functions. The price leader clears the market by serving the...

According to the data of business surveys of the Gaidar Institute1, the beginning of Q4 is estimated by enterprises as much positive as the end of Q3. Good dynamics of demand and effi cient control over stocks of fi nished products permitted the industry to underpin growth in production in...