我院王峥老师在经济学期刊Economics Bulletin (Vol. 35 No. 2 p.A115)上发表论文。下面是论文的摘要。
Previous research shows that the presence of a monopoly upstream eliminates the incentive of duopoly downstream owners to strategically delegate quantity choices. I show that this vertical externality associated with the presence of the upstream monopoly vanishes when delegating by a relative performance contract. Moreover, I show that the relative performance contract will be endogenously chosen instead of the revenue contract associated with the externality. While this result exists with constant returns to scale, it does not persist in the case of decreasing returns to scale.