We consider a labour market model of oligopsonistic wage competition and show that there is a holdup problem although workers do not have any bargaining power. When a firm invests more, it pays a higher wage in order to attract workers from competitors. Because workers participate in the returns...

This book provides a complete and up-to-date treatment of the Theories of Imperfectly Competitive Markets. In its five chapters, the book deals with Nash equilibrium in aggregative games, comparative statics in aggregative games, welfare and Cournot competition, monopolistic competition and two...