This paper investigates whether an incumbent has an incentive to introduce corporate social responsibility (CSR) activities only as a response to entry by a competitor who cannot provide CSR (credibly) due to its lack of recognition, at least at the outset. More precisely, this paper shows that...

We consider contracting of a principal with an agent if multilateral externalities are present. The motivating example is that of an international climate agreement given private information about the willingness-to-pay (WTP) for emissions abatement. Due to multilateral externalities the...

This paper introduces a non-cooperative and dynamic framework of intrafamiliar decisions where the partners obtain utility from own consumption, account for the partner's benefit from consumption (altruism), and appreciate wealth. Stationary wealth (and thus stationary consumption) decreases...