Showing 1 - 10 of 193
We study political activism by several agents (lobbyists, unions, etc.) who have private but imperfect policy …, the equilibrium is shown to be equivalent to that with a single lobbyist, and even though activism conveys valuable … the different equilibria and study the optimal organization of influence activities, examining when the policy maker and …
Persistent link: https://www.econbiz.de/10005792452
traced to the differential organization of the coffee industry. We show that the different forms that the coffee economy took …
Persistent link: https://www.econbiz.de/10005123696
consequences of activism. More recent models show that blockholders can govern through the alternative mechanism of “exit …
Persistent link: https://www.econbiz.de/10011084247
We introduce endogenous political parties into the Hotelling-Downs voting framework to model the selection of candidates. First, activists choose which party to join, if at all. Second, party members select a champion for the general election. Third, the electorate median voter determines the...
Persistent link: https://www.econbiz.de/10011084416
We examine deal-level data on private equity transactions in the UK initiated during the period 1996 to 2004 by mature private equity houses. We un-lever the deal-level equity return and adjust for (un-levered) return to quoted peers to extract a measure of "alpha" or abnormal performance of the...
Persistent link: https://www.econbiz.de/10004980202
This paper addresses a number of questions which are essential to a proper understanding of the causes and effects of the inflationary process and to an assessment of the contribution of monetary policy to the achievement of long-term price stability. These questions are: (1) what are the...
Persistent link: https://www.econbiz.de/10005661822
and contract theory, applying organization theories in labor economics, and using these theories to interpret the wealth …
Persistent link: https://www.econbiz.de/10009002388
The economy is experiencing a large shift towards professional services. Markets for these services are characterized by large information asymmetries: the difficulty in providing the necessary advice, the quality of the advice, and whether a problem is solved may all be unobservable. Our...
Persistent link: https://www.econbiz.de/10011083990
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...
Persistent link: https://www.econbiz.de/10011084048
Guided by theories of management by exception, we study the impact of Information and Communication Technology on worker and plant manager autonomy and span of control. The theory suggests that information technology is a decentralizing force, whereas communication technology is a centralizing...
Persistent link: https://www.econbiz.de/10011084130