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A monopolist is treated as a nexus of contracts with team production. It has one ownermanager. The owner-manager is the employer of two employees. A team production problem is present if the employer is a "managerial lemon". If the team production problem is solved, the employer is a "managerial...
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the structure-conduct-performance (SCP) theory. …
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evaluates that literature, clarifies what tournament theory predicts about the relationship, identifies methodological pitfalls … relationship between pay disparity and firm performance. Tournament theory offers a unified framework that can explain an inverted …
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