uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition … private signals or more correlation among the costs parameters. In fact, for large values of noise or correlation supply …

A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have … with more noise in the private signals or more correlation among the costs parameters. In fact, for large values of noise …

Empirical evidence indicates that lay-off costs consist of two elements, namely firing costs and severance payments …. This paper investigates business cycle and steady state effects of firing costs and severance payments and discusses the … differences. We find that severance payments imply a lower volatility of key labor market variables compared with firing costs …