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Choice of Product Variety for the Durable Goods Monopolist
(1999-01)
This paper analyzes the strategic choice of variety by a monopolist seller of a durable good as a means to mitigate his commitment problem. The monopolist chooses his product variety with a goal of ensuring that a strong ...
Should Owners of Firms Delegate Long-run Decisions?
(1999-11)
This paper analyzes whether owners of firms have incentives to delegate their long-run decisions to managers or not. The result arising from our analysis shows that owners do have incentives to keep their long-run decisions ...