This paper addresses the question of delegation in an organization where there is an initial asymmetry of information between the principal and the agent. We assume that the principal cannot use revelation techniques à la Baron Myerson to elicit agent's superior information and in contrast, we...

The objective of this paper is to model explicitly the possibility to form temporary matching in a model of two-sided search. The agents (workers and employers) differ by their human quality endowment. In a search equilibrium agents form subintervals and are only matched to agents within their...

En 2011, le marché postal sera entièrement libéralisé. Le service universel sera-t-il maintenu ? Comment sera-t-il financé ? Dans cet article, nous abordons la question du financement du service universel postal dans un environnement concurrentiel. La Commission européenne propose...

La Commission européenne vient de décider d’ouvrir d’ici 2010 l’ensemble du marché ferroviaire à la concurrence. À l’avenir, la SNCB ne sera plus la seule compagnie à transporter des passagers dans notre pays. Dans ce numéro de Regards économiques, nous analysons au travers de...

En Wallonie, la collecte des déchets est fréquemment déléguée par les communes à une intercommunale ou à un collecteur privé. Par ailleurs, de plus en plus de communes utilisent des conteneurs à puce. Cet article compare les performances en termes de coûts de ces différentes alternatives

This article studies the problem of regulating a monopolist with unknown marginal cost. The problem described differs from Baron and Myerson [1982] because we suppose that the regulator faces a cash-in-advance constraint. The introduction of such a constraint may lead to the collapse of the...

This paper investigates the role of output quality control in a multi agent setting with moral hazard. The principal is in charge of a team of agents who produce the output. The marketing of this output can be either a success or entail huge losses. At the time of marketing the product, the...

In this paper we explain the apparent "diversification discount” of conglomerates without assuming inefficient-cross subsidisation through internal capital markets. Instead we assume that internal capital market efficiently redistributes scare resources across a conglomerate’s divisions...

With an overlapping generations model, Williamson and Jones [1983] demonstrated that the long-run savings ratio in the U.S. was not affected by the introduction and the reform of the unfunded social security system. This paper extends their model by including a production sector, endogenous...

The paper argues that it is not clear where P. Van Parijs sets the borderline between the economic modelable of explaining many seemingly disparate, but not all, social phenomena - and evolutionary models. Sometimes it seems that evolutionary models are required in situations when people behave...