Political and economic institutions are typically governed by committees that face the challenge to reconcile the preferences of their members. How should decision rules be designed to generate fair and sustainable agreements, for example if committee members represent groups of different sizes?...

This book presents a number of ideas for drawing up new rules to improve the functioning of democracies. The first part examines ways of combining incentive contracts with democratic elections. Such a judicious combination can alleviate a wide range of political failures without impairing the...

The increasing complexity of our environment, the globalization of diverse business processes and their intercultural embedment create challenges, higher risks and hence interdependency between a growing number of participants. This is undoubtedly reflected in the current financial crisis and...