During the last decades organizational flexibility of enterprises has increased to suit the requirements of dynamic and complex markets. The emergence of hybrid organizations as combinations of hierarchical and heterarchical elements comes along with this development. Hybrid organizations...

In the literature on risk, one generally assume that uncertainty is uniformly distributed over the entire working horizon, when the absolute risk-aversion index is negative and constant. From this perspective, the risk is totally exogenous, and thus independent of endogenous risks. The...