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Decision-making and implementation in teams
Blanes i Vidal, Jordi; Möller, Marc - London School of Economics (LSE) - 2013
We use a mechanism–design approach to study a team whose members choose a joint project and exert individual efforts to execute it. Members have private information about the qualities of alternative projects. Information sharing is obstructed by a trade–off between adaptation and...
Persistent link: https://www.econbiz.de/10011071245
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Transaction costs and the robustness of the Coase Theorem
Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 2000
This paper explores the extent to which the presence of ex-ante transaction costs may lead to failures of the Coase Theorem. In particular we identify and investigate the basic ‘hold-up problem’ which arises whenever the parties to a Coasian negotiation have to pay some ex-ante costs for the...
Persistent link: https://www.econbiz.de/10010745037
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Rising trade costs?: agglomeration and trade with endogenous transaction costs
Duranton, Gilles; Storper, Michael - London School of Economics (LSE) - 2005
While transport costs have fallen, the empirical evidence also points at rising total trade costs. In a model of industry location with endogenous transaction costs, we show how and under which conditions a decline in transport costs can lead to an increase in the total cost of trade.
Persistent link: https://www.econbiz.de/10010745746
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The effect of the UK stamp duty land tax on household mobility
Hilber, Christian A. L.; Lyytikainen, Teemu - London School of Economics (LSE) - 2012
We estimate the effect of the UK Stamp Duty Land Tax on household mobility using micro data. Exploiting a discontinuity in the tax schedule as a quasi-experimental setting, we isolate the impact of the stamp duty from other determinants of mobility. Our empirical strategy essentially compares...
Persistent link: https://www.econbiz.de/10011126731
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Private investment and political uncertainty
Stasavage, David - London School of Economics (LSE) - 2000
uncertainty and levels of private investment across countries. This result raises the question what institutions might help reduce …, proposed in a seminal article by North and Weingast (1989), is that political institutions characterized by checks and balances … propose a modified version of this hypothesis and test it using new cross-country data on political institutions. I also use a …
Persistent link: https://www.econbiz.de/10010745744
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The optimal design of funded pensions
Greco, Luciano G. - London School of Economics (LSE) - 2006
efficiency loses, due to pension savings attraction efforts, as well as gains, related to investments in asset management skills … ones improves (at least weekly) it. Taking into account political and commitment constraints affecting public institutions …
Persistent link: https://www.econbiz.de/10010746549
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Landing the first job: the value of intermediaries in online hiring
Stanton, Christopher; Thomas, Catherine - London School of Economics (LSE) - 2012
Online marketplaces for remote labor services allow workers and firms to contract with each other directly. Despite this, a large fraction of the workforce is affiliated with small, autonomous intermediary organizations that are widespread within these markets. This paper shows that...
Persistent link: https://www.econbiz.de/10011126476
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Landing the first job: the value of intermediaries in online hiring
Stanton, Christopher; Thomas, Catherine - London School of Economics (LSE) - 2014
Online markets for remote labor services allow workers and firms to contract with each other directly. Despite this, intermediaries - called outsourcing agencies - have emerged in these markets. This paper shows that agencies signal to employers that inexperienced workers are high quality....
Persistent link: https://www.econbiz.de/10011126576
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Schooling, nation building and industrialization: a Gellnerian approach
Hauk, Esther; Ortega, Javier - London School of Economics (LSE) - 2015
We model a two-region country where value is created through bilateral production between masses and elites (bourgeois and landowners). Industrialization requires the elites to finance schools and the masses to attend them. Schooling raises productivity, particularly for matches between masses...
Persistent link: https://www.econbiz.de/10011183324
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On the design of hierarchies: coordination versus specialization
Hart, Oliver; Moore, John - London School of Economics (LSE) - 1999
We develop a model of hierarchies based on the allocation of authority. A firm's owners have ultimate authority over a firm's decisions, but they have limited time or capacity to exercise this authority. Hence owners must delegate authority to subordinates. However, these subordinates also have...
Persistent link: https://www.econbiz.de/10010744898