assign a non-profit-maximization objective to their managers. Consequently, managers in a delegation game invest more in cost …

assign a non-profit-maximization objective to their managers. Consequently, managers in a delegation game invest more in cost …

combination of profits and sales as incentives for their managers. On the second stage, the two managers compete in a tournament …This paper considers a two-stage game with two owners and two managers. On the first stage, the owners choose a linear … against each other. In a symmetric equilibrium, both owners induce their managers to maximize profits. In asymmetric …