This paper endogenizes coordination problems in organizations by allowing for both ex ante coordination of activities …, using rules and task guidelines, and ex post coordination, using communication and broad job assignments. It shows that: (i … coordination. In particular, specialization is often non-monotonic in the importance of coordination. (ii) Organizations exhibit …

, which must be adapted to a privately observed shock and coordinated with other tasks. Coordination requires that agents pay … leadership naturally arise as a response to organizational trade-offs between coordination and adaptation. At the optimum, all …

, monopoly pricing when consumers are loss averse, arms races when players are privately informed of their armament costs? We …

costs of exclusion. Accounting for the observation that buyers are more likely to accept an exclusive deal the higher is the …

This paper investigates the desirability of international fiscal policy coordination in the presence of a domestic … deficits. International coordination can exacerbate this bias, and thus reduce social welfare at home and abroad. The reason is … that international coordination enables the domestic and foreign governments to form a coalition that excludes future …

maintaining reserves. However, the interbank market exposes the system to a coordination failure (gridlock equilibrium) even if …