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Price versus Quantity in a Duopolistic Market with Bargaining over Managerial Delegation Contracts

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  • Yasuhiko Nakamura

Abstract

This paper studies the endogenous choices of strategic contracts in a duopoly with bargaining between the owner and manager of each firm over the content of the managerial delegation contract. We show that when the bargaining power of the manager relative to that of the owner within each firm is sufficiently high, quantity competition based on the quantity contracts chosen by the owners of both firms can be uniquely observed in the equilibrium, whereas quantity competition and price competition can be observed in the equilibrium when this relative bargaining power is sufficiently low. Copyright © 2015 John Wiley & Sons, Ltd.

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  • Yasuhiko Nakamura, 2017. "Price versus Quantity in a Duopolistic Market with Bargaining over Managerial Delegation Contracts," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 38(3), pages 326-343, April.
    • Handle: RePEc:wly:mgtdec:v:38:y:2017:i:3:p:326-343
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    Cited by:

    1. Michael Kopel & Eva Maria Putz, 2021. "Information sharing in a Cournot–Bertrand duopoly," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(7), pages 1645-1655, October.
    2. Yasuhiko Nakamura, 2018. "Endogenous Market Structures in the Presence of a Socially Responsible Firm," Journal of Industry, Competition and Trade, Springer, vol. 18(3), pages 319-348, September.
    3. Duarte Brito & Margarida Catalão-Lopes, 2023. "Cournot–Bertrand endogenous behavior in a differentiated oligopoly with entry deterrence," Theory and Decision, Springer, vol. 95(1), pages 55-78, July.
    4. Yasuhiko Nakamura, 2017. "Price Versus Quantity in a Duopoly with a Unilateral Effect and with Bargaining over Managerial Contracts," Journal of Industry, Competition and Trade, Springer, vol. 17(1), pages 83-119, March.
    5. Yasuhiko Nakamura, 2021. "Price versus quantity in a duopoly with network externalities under active and passive expectations," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(1), pages 120-133, January.
    6. Yasuhiko Nakamura, 2022. "Corporate social responsibility focusing on consumer surplus and endogenous competition structure: A case of managerial delegation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 3000-3018, October.

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