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Battaglini, Marco - C.E.P.R. Discussion Papers - 2004

Consider Holmström.s moral hazard in teams problem when there are n agents, each agent i has a a(i)-dimensional strategy space and output can be m-dimensional. We show that a compensation mechanism that satisfies budget balance, limited liability and implements an efficient allocation...

Persistent link: https://www.econbiz.de/10005791765

Allocating Control in Agency Problems with Limited Liability and Sequential Hidden Actions

Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2005

This paper discusses the optimal organization of sequential agency problems with contractible control actions under limited liability. In each of two stages, a risk-neutral agent can choose an unobservable effort level. A success in the first stage makes effort in the second stage more...

Persistent link: https://www.econbiz.de/10005791951

Authority and incentives in organizations

Kräkel, Matthias - In: The Scandinavian journal of economics 119 (2017) 2, pp. 295-311

Persistent link: https://www.econbiz.de/10011716711

Political preferences and public sector outsourcing

Elinder, Mikael; Jordahl, Henrik - In: European Journal of Political Economy 30 (2013) C, pp. 43-57

, it is somewhat surprising that many social scientists have preferred to explain government outsourcing by the pursuit of … economic efficiency. Starting out from different theories, we investigate political explanations of government outsourcing … using a Swedish data set in which outsourcing varies between municipalities and over time, as well as between services. Our …

Persistent link: https://www.econbiz.de/10010664748

Interdependent product cycles for globally sourced intermediates

Van Biesebroeck, Johannes; Zhang, Lijun - In: Journal of International Economics 94 (2014) 1, pp. 143-156

We analyze a firm that produces a final good from multiple intermediates, each of which can be sourced domestically or from a low-wage country. Offshoring an intermediate is only profitable when it has matured sufficiently and the savings in production cost outweigh the underinvestment due to...

Persistent link: https://www.econbiz.de/10010931451

Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production

Antràs, Pol - C.E.P.R. Discussion Papers - 2011

I survey the influence of Grossman and Hart's (1986) seminal paper in the field of International Trade. I discuss the implementation of the theory in open-economy environments and its implications for the international organization of production and the structure of international trade flows. I...

Persistent link: https://www.econbiz.de/10009320400

Global Sourcing of a Complex Good

Van Biesebroeck, Johannes; Zhang, Lijun - C.E.P.R. Discussion Papers - 2011

We analyze a firm that produces a final good from multiple intermediates that can each be sourced domestically or from a low-wage country. The model explicitly incorporates that sourcing decisions of intermediates are interdependent. Equilibrium predictions depend crucially on a key modeling...

Persistent link: https://www.econbiz.de/10009324256

Global sourcing of complex production processes

Schwarz, Christian; Suedekum, Jens - In: Journal of International Economics 93 (2014) 1, pp. 123-139

We develop a theory of a firm in an incomplete contracts environment which decides on the complexity, the organization, and the global scale of its production process. Specifically, the firm decides i) how many intermediate inputs are simultaneously combined to a final product, ii) if the...

Persistent link: https://www.econbiz.de/10010776980

Organizations and Trade

Antràs, Pol; Rossi-Hansberg, Esteban - C.E.P.R. Discussion Papers - 2008

We survey an emerging literature at the intersection of organizational economics and international trade. We argue that a proper modelling of the organizational aspects of production provides valuable insights on the aggregate workings of the world economy. In reviewing the literature, we...

Persistent link: https://www.econbiz.de/10005791747

Dynamic principal-agent models

Renner, Philipp; Schmedders, Karl - 2016

We consider discrete time dynamic principal--agent problems with continuous choice sets and potentially multiple agents. We prove the existence of a unique solution for the principal's value function only assuming continuity of the functions and compactness of the choice sets. We do this by a...

Persistent link: https://www.econbiz.de/10011516045

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