We investigate whether competition between two firms to hire managers with different abilities might affect the product markets efficiency, when a manager's effort once hired is or her private information. We conclude that competition for managers might lead to an efficiency improvement in the...

The paper examines some issues linked to the integration of market power in general equilibrium. The first part reviews the different existing approaches : subjective and objective, in terms of quantitites and in terms of prices. The second part presents a semi-competitive model, based on a...