The issue of timing is addressed in a game between managerial firms. The choice over timing can be taken either by managers or by entrepreneurs. It is shown that (i) delegation drastically modifies the owners' preferences concerning the distribution of roles, as compared with the setting where...

We show that Miller and Pazgal.s (2001) model of strategic delegation, in which managerial incentives are based upon relative performance, is affected by a non-existence problem which has impact on the price equilibrium. The undercutting incentives generating this result are indeed similar to...

The interplay between firms' internal organization and market behaviour is a long standing issue in industrial economics. This book examines firms' objectives in the comparatively new perspective shaped by globalization. The positive and normative aspects of theoretical analysis are developed...