agency bias we expect delegation to dominate. Controlling for economic and political factors, our empirical tests show that …

-agent framework, it analyzes two alternative policy-decision schemes—‘decentralization’ and ‘centralization’—when ‘knowledge’ consists … of unverifiable information and the quality of communication depends on the conflict of interests between the government … levels. It is shown that, depending on which level of policy decision-making controls the degree of decentralization, the …

support. Budget support increases the involvement of recipient governments in the decision-making process and can thus be an … example of a “delegation-scheme.” Conversely, project aid represents a more “centralized” type of aid. According to the theory … of policies should be increased (delegation). Conversely, there should be less freedom in designing policies when donors …

inverted with the onset of the financial crisis. To shed light on the underlying decision rule of the ECB, we rank different …

elitism that maximizes social mobility increases, while the welfare-maximizing degree of elitism decreases. The ranking … between the welfare- and mobility-maximizing degree of elitism may even be reversed. Utilitarian welfare is always higher when …

We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to …. Severance pay plays a key role in the optimal compensation scheme. Delegation is interpreted as a dual-board structure. …

This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate … decision authority and to increase their wages in later periods (in case of public evaluation). We show that the principal …

directed tax incentives lead to different cultural landscapes. Theories of delegation suggest delegating the judgement on …

rigid, non discretionary contracts. Delegation grants some flexibility in the choice of the action by the agent, but also … play then an important role in determining the costs of delegation. The main focus of the paper lies indeed in the analysis … of these costs and the consequences for whether or not delegation is optimal.We determine and characterize the properties …