If managers are risk-averse and compensation schemes are not directly linked to shareholder wealth, incentives to … then show how serial correlation in shocks, the relative variance of shocks and the ability of managers to influence the … asymmetric incentives in these two variables. Thus, if managers are risk-averse, their incentives to reduce the impact of …

We analyze competition through incentive contracts for managers in duopoly. Privately informed managers exert surplus … managerial compensations between efficient and inefficient managers. In the second case, as with large contractual spillovers …

symmetry in economic responses. This paper explores this issue using an economy-wide approach that represents oligopoly … effects on performance than busts. This is shown to be affected by oligopoly but to have its roots in neoclassical behaviour …

level in an oligopoly supergame where a positive shock may hit demand and disrupt collusion. The novel feature of our model …