Berglöf, Erik; Burkart, Mike; Friebel, Guido; … - Economic Policy Research Unit (EPRU), Økonomisk Institut - 2009
In many organizations, decisions are taken by unanimity giving each member veto power. We analyze a model of an organization in which members with heterogenous productivity privately contribute to a common good. Under unanimity, the least efficient member imposes her preferred effort choice on...
