We analyze productivity-improving mergers in mixed triopoly and explore stable market structures. We find the only stable market structure contains a merged public-private firm and one private firm with about 57% of shares owned by the public firm.

This paper examines the bargaining problem between firms' owners and managers over their managerial delegation contracts in a duopolistic market with differentiated-products. Assuming that delegated managers make every managerial decision in the market, we analyze how the managers'' bargaining...