This paper considers a simple model of competition based on some buyers making price comparisons between two suppliers. The difficulties of making appropriate comparisons are made greater by exclusive dealer agreements and restrictions, and by suppliers trading under more than one name. It is...

Banks supply loans for firms to enter an industry. They choose between credit restrictions, where firms' decisions are limited by contract, and credit rationing. These are both ways to avoid firmsÕ moral hazard. An equilibrium is described in both approaches. The two equilibria are compared and...