Strategic Delegation and the Shape of Market Competition

Lambertini, Luca (1998) Strategic Delegation and the Shape of Market Competition. Bologna: Dipartimento di Scienze economiche DSE, p. 23. DOI 10.6092/unibo/amsacta/5043. In: Quaderni - Working Paper DSE (267). ISSN 2282-6483.
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Abstract

Which shape market competition is likely to exhibit? This question is addressed in the present paper, where firms can choose whether to act as quantity or price setters, whether to move early or delay as long as possible at the market stage and finally whether to be entrepreneurial or managerial. Moreover, firms can endogenously determine the sequence of such decisions. It is shown that in correspondence of the (unique) subgame perfect equilibrium of the game, all firms first decide to delay, then to act as Cournot competitors, and finally stockholders decide to delegate control to managers. Hence, sequential play between either managerial or entrepreneurial firms, as well as simultaneous play between entrepreneurial firms are ruled out.

Abstract
Tipologia del documento
Monografia (Working paper)
Autori
AutoreAffiliazioneORCID
Lambertini, Luca
Parole chiave
delegation, extended game, distribution of roles.
Settori scientifico-disciplinari
ISSN
2282-6483
DOI
Data di deposito
01 Apr 2016 10:01
Ultima modifica
01 Apr 2016 10:01
URI

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