This paper studies the costs and benefits of delegating decisions to superiorly informed agents relative to the use of … play then an important role in determining the costs of delegation. The main focus of the paper lies indeed in the analysis … of these costs and the consequences for whether or not delegation is optimal.We determine and characterize the properties …

This paper studies collective contests with endogenous cost sharing, general effort costs and intra-group heterogeneity …

emissions. In the near-term, R&D investments, either by government or the private sector, can bring down the costs of these … technologies under uncertainty. Specifically, given two technologies, one with lower costs at present, but the other with greater …

model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to …

A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have … with more noise in the private signals or more correlation among the costs parameters. In fact, for large values of noise …

uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition … private signals or more correlation among the costs parameters. In fact, for large values of noise or correlation supply …

with significantly lower displacement costs and on average significantly higher pre-closure earnings levels as opposed to … estimated displacement costs to differ between early leavers and ultimately displaced workers. Focusing exclusively on the … latter group would lead to a serious overestimation of displacement costs …

inflation is driven by real unit labor costs rather than the loan rate. Our main conclusion is that the strength of the cost …