In a situation where firms compete for a contract of an agency and subcontract part of this contract it is shown that: (i) If the timing of subcontracting is determined by the firms,then the more efficient firms subcontract after the award, while the less efficient firms subcontract before the...

The fundamental challenges that Germany is facing - increasing productivity, combining the transformation to climate neutrality with economic growth, making the economy more resilient - cannot be tackled in large part without Europe. This is in the nature of things: resilience and security of...