Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro-economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....

Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro‐economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....

This paper is concerned with the question of how to define the core when cooperation takes place in a dynamic setting. The focus is on dynamic cooperative games in which the players face a finite sequence of exogenously specified TU-games. Three different core concepts are presented: the...

This paper empirically tests the principal-agent model prediction that the use of performance measures for incentive purposes is affected by the agent’s risk aversion. We find that the use of both accounting and market performance measures in executive compensation contracts decreases as the...

Relationship management is becoming more important, also in direct marketing. Measuring the strength of relationships is relevant, since relationship strength can be used as a segmentation variable. However, in measuring relationship strength, mostly one or more behavioral indicators are used...