Kopel, M.; Lambertini, L. - Dipartimento di Scienze Economiche, Alma Mater … - 2012
We show that Miller and Pazgal.s (2001) model of strategic delegation, in which managerial incentives are based upon relative performance, is affected by a non-existence problem which has impact on the price equilibrium. The undercutting incentives generating this result are indeed similar to...