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intrapersonal, as occurs when there are endogenously changing tastes, or interpersonal where delegation is intuitionally necessay or … where decison making is 'as if' there is delegation.  This is possible if decision making is through voting - an existence …
Persistent link: https://www.econbiz.de/10011004163
policy delegation should also be applied to the macroeconomic aspects of fiscal policy.  A number of countries have recently … the objectives of monetary policy, may help explain key differences in the nature of delegation between the two.  The … paper ends by making some comparisons between the delegation of monetary and fiscal policy in the United Kingdom. …
Persistent link: https://www.econbiz.de/10008852053
achieved through delegation to an `environmental policymaker`, akin to a conservative central banker. …
Persistent link: https://www.econbiz.de/10004977883
In this paper we study the delegation of a production process in a three-tier hierarchy. The principal contracts …
Persistent link: https://www.econbiz.de/10005090666
We present a model in which a principal delegates the choice of project to an agent with different preferences. A project`s characteristics are verifiable once presented to the principal, but the principal does not know how many projects are available to the agent. The principal chooses the set...
Persistent link: https://www.econbiz.de/10005047815
This paper studies a simultaneous-move infinite-horizon delegation game in which the principal of a durable goods … delegation contract allows for continual interference with managerial incentives: in each period the principal rewards the … manager according to her performance. We show that when the cost of delegation is low relative to profits, the principal can …
Persistent link: https://www.econbiz.de/10005047825