differentiated product duopoly with demand uncertainty. We prove that the expected consumer surplus is always higher under the supply … function competition, irrespective of whether the (duopolistic) products are substitutes, complements, or independent … degree of substitution, then the supply function competition can always be Pareto superior to the quantity competition in …

This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … variable payments. The degree of competition then determines the structure of these contracts. Three regions can be … distinguished: For low competition, low-ability agents are under-incentivized and exert too little effort. For high competition …