collusion and capture between middle managers and line workers; provided that this detrimental form of collusion takes place in … of a collusive agreement a party has to incur to walk away from such a side deal. Delegation is then a simple way for the … principal to compensate the uninformed colluding party for walking out of collusion and for using/reporting the information …

termination threats make collusion supportable at any discount factor, independent of contracts’ duration. When managers have …

Using an agency model, we show how delegation, by generating additional private information, improves dynamic … effect which reduces an inefficient agent's take-the-money-and-run incentive. Although delegation entails a loss of control …, it is optimal when uncertainty about operational efficiency is large. Moreover, delegation is more effective with …

the agent is protected by limited liability, delegation is never optimal. …

delegation, and provide novel microfoundations for the make-or-buy decision. We outline precise conditions under which giving up …

distortion, such as delegation and choosing to be less informed. …

facilitate collusion among agents, which induces an additional trade-off between reputational forces and collusion. When non …-contractible dimensions are very important this last trade-off may disappear, as collusion allows more efficient enforcement of better …

corruption is to facilitate collusion in price between firms. This can result in high public spending and inefficient allocation …

enforcers - on sequential, bilateral, illegal transactions such as corruption, manager-auditor collusion, or drug deals. It is …