understanding of two fundamental problems that arise when agency relationships are established between a worker and firm. The first … is that agency relationships often require the creation of specific property rights in order for firm owners to realize … productive efficiencies of scale or scope from agency. The second is that the economic characteristics of the agency relationship …

can otherwise be explained by, the agency relationship between securities holders and managers. We argue that the value of … diversification in an agency relationship derives not from its effects on risk, but rather from its effects on the principal …

the interaction of interests between companies and environment protection agency, which takes into account the nature …

theoretical foundation, elements resumed by a set of critical postulates and a special definition of state as the dominant agency …

: hierarchy is justified for coordination of continuous change, rather than for the direction of static production. Hierarchy is …

addition to ex-post collusion following the monitoring outcome. Extending a well-known model of hierarchy, we study the …

overall likelihood of bribing tends to a maximum determined by the control mechanisms. The factors affecting the expectation … aimed at continuously perfecting the regulations and the control mechanisms. As the latter are expensive, it is argued that … the overall efficiency of the system, including but beyond control of corruption. …