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The impact of the presence of biased managers as strategic commitment on endogenous market structures

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  • Yasuhiko Nakamura

Abstract

We consider the endogenous selection of strategic contracts in an asymmetric duopoly with substitutable goods. The market includes a biased manager, in terms of the market size the manager expects, in a managerial duopoly with separation between ownership and management. In particular, we focus on how the types of managers selected by owners affect the equilibrium market structures. Furthermore, by considering that each manager's expectation of market size depends on their own type and the type of the rival manager, we examine a situation in which the owner is less certain of the type of manager.

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  • Yasuhiko Nakamura, 2019. "The impact of the presence of biased managers as strategic commitment on endogenous market structures," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 40(1), pages 84-96, January.
    • Handle: RePEc:wly:mgtdec:v:40:y:2019:i:1:p:84-96
    DOI: 10.1002/mde.2983
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    Cited by:

    1. Meccheri Nicola, 2023. "On the Social Desirability of Centralized Wage Setting when Firms are Run by Biased Managers," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 23(3), pages 701-725, July.
    2. Yasuhiko Nakamura, 2022. "Corporate social responsibility and endogenous competition structure in an industry composed of firms with biased managers," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 69(2), pages 301-321, June.
    3. Nicola Meccheri, 2021. "Biased managers in vertically related markets," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(3), pages 724-736, April.
    4. Nicola Meccheri, 2019. "Biased managers in a vertical structure," Working Paper series 19-12, Rimini Centre for Economic Analysis.
    5. Kangsik Choi & DongJoon Lee & Ki‐Dong Lee, 2023. "Biased managers with network externalities," Scottish Journal of Political Economy, Scottish Economic Society, vol. 70(3), pages 201-216, July.

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