This paper addresses the question of delegation in an organization where there is an initial asymmetry of information … be contracted for. With these simple contracts, we show that delegation is an alternative to contracting to elicit agent … sequence of decisions, the information learned by the principal can be used for the other decisions. So delegation is only …

competition policy, and a "delegation" regime, where the policy is chosen by consumers. In both regimes the policy is implemented … under discretion. The analysis shows that delegation dominates, both in case of complete and imperfect information about …