Leaders play crucial roles in their enterprises. Most modern organizations today, such as corporations and government departments, have no leaders. About 80% of all organizations have no top structures, and are run by inertia as leaderless organizations. These organizations have pretense-pseudo...

In an agency model with adverse selection, we study how hidden interactions between agents affect the optimal contract. The principal employs two agents who learn their task environments through their involvement. The principal cannot observe the task environments. It is important to note that...