For an even number of firms with identical transport cost, spatial Cournot competition in a circular city generates a continuum of equilibria. We establish that any transport cost differential between the firms, however small, may eliminate all the equilibria, except the partial agglomeration...

We study the effects of a statutory wage tax sharing rule in a principal - agent framework with moral hazard (à la Holmstrom, 1979) using the approach of Bose, Pal, Sappington (2007) to model the stochastic relationship between the agent’s unobserved effort and his observed performance. The...