On the (Non) Existence of a Price Equilibrium in Delegation Games with Relative Performance Compensation

M. Kopel, L. Lambertini
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引用次数: 3

Abstract

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 those affecting the stability of price cartels.
关于具有相对绩效补偿的委托博弈中价格均衡的(不)存在性
我们证明Miller和Pazgal。S(2001)的战略委托模型中,管理层的激励是基于相对绩效的,它受到一个不存在问题的影响,这个问题会影响价格均衡。造成这一结果的削价动机确实与影响价格卡特尔稳定性的动机相似。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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