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Moncler Stockists Scotland firms delegate the output decision to
This paper shows that the profitability of merger in oligopoly is significantly enhanced if firms delegate the output decision to an agent and then motivate the latter using strategic rent shifting contracts. Two consequences of increased profitability are that the minimum market share that the merging parties require in order to merge profitably without efficiency gains, as well as the maximum market share that the merging parties can possess in order to guarantee that a profitable merger is welfare enhancing, are reduced. A third result is that delegation cannot reduce the set of endogenous mergers. Tanner's  theory Buy Moncler for capillary die swell1 is amended, taking account of a suggestion of Graessley et al. . The calculations for a Maxwell fluid show no significant changes in predictions. The calculations are also carried out for a long annular die, the results being new. An alternative theory based on affine recovery from entry flow for short capillaries is developed. Surprisingly, for spherically symmetric sink flow, the predictions are barely distinguishable from the Tanner, or modified Tanner, theories. Comparison Moncler Stockists Scotland with experiment and further discussion will be given in a later paper.