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Externalities, Communication and the Allocation of Decision Rights

Bester, Helmut - C.E.P.R. Discussion Papers - 2005

This paper views authority as the right to undertake decisions that impose externalities on other members of the organization. When only decision rights can be contractually assigned to one of the organization's stakeholders, the optimal assignment minimizes the resulting inefficiencies by...

Persistent link: https://www.econbiz.de/10005114267

Use and Abuse of Authority: A Behavioral Foundation of the Employment Relation

Bartling, Björn; Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2012

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...

Persistent link: https://www.econbiz.de/10011084462

Resource Allocation and Firm Scope

Friebel, Guido; Raith, Michael - C.E.P.R. Discussion Papers - 2006

We develop a theory of firm scope in which integrating two firms into one facilitates the allocation of resources, but leads to weaker incentives for effort, compared with non-integration. Our theory makes minimal assumptions about the underlying agency problem. Moreover, the benefits and costs...

Persistent link: https://www.econbiz.de/10005666612

Externalities and the Allocation of Decision Rights in the Theory of the Firm

Bester, Helmut - C.E.P.R. Discussion Papers - 2002

This Paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision-maker’s objective. The optimal assignment of...

Persistent link: https://www.econbiz.de/10005661581

Vog: Using Volcanic Eruptions to Estimate the Health Costs of Particulates and SO2

De Paula, Áureo; Halliday, Timothy J.; Lynham, John - C.E.P.R. Discussion Papers - 2015

Kilauea volcano is the largest stationary source of SO2 pollution in the United States of America. Moreover, the SO2 … pollution variation to estimate the impact of particulate matter and SO2 on emergency room admissions and costs in the state of … evidence that particulate pollution increases pulmonary-related hospitalization. Specifically, a one standard deviation …

Persistent link: https://www.econbiz.de/10011252621

Pollution and Growth: What Do We Know?

Grossman, Gene - C.E.P.R. Discussion Papers - 1993

water quality. Pollution may rise with growth, because an increased scale of economic activity means more emissions, ceteris … pollution there is no evidence at all that a turning point has yet been reached. The paper goes on to discuss the economic …

Persistent link: https://www.econbiz.de/10005498085

Acid Rain

Newbery, David M G - C.E.P.R. Discussion Papers - 1990

current agreement on uniform reductions from 1980 levels is inefficient and costly. The evidence suggests that SO2 pollution …

Persistent link: https://www.econbiz.de/10005281281

Are the Costs of Cleaning Up Eastern Europe Exaggerated? Economic Reform and the Environment

Hughes, Gordon - C.E.P.R. Discussion Papers - 1990

Widespread concern has been expressed that the costs of reducing environmental pollution in Eastern Europe will divert …

Persistent link: https://www.econbiz.de/10005281413

Does Supporting Passenger Railways Reduce Road Traffic Externalities?

Lalive, Rafael; Luechinger, Simon; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2013

reduce the number of severe road traffic accidents, carbon monoxide, nitrogen monoxide, nitrogen dioxide pollution and infant …

Persistent link: https://www.econbiz.de/10011083939

Environmental Impacts of a North American Free Trade Agreement

Grossman, Gene; Krueger, Alan B - C.E.P.R. Discussion Papers - 1992

. We investigate whether the size of pollution abatement costs in US industry influences the pattern of international trade … effect of a North American Free Trade Agreement (NAFTA) on pollution in Mexico. …

Persistent link: https://www.econbiz.de/10005791657