Showing 1 - 10 of 90
We present a model in which a principal delegates the choice of project to an agent with different preferences. A project`s characteristics are verifiable once presented to the principal, but the principal does not know how many projects are available to the agent. The principal chooses the set...
Persistent link: https://www.econbiz.de/10005047815
intrapersonal, as occurs when there are endogenously changing tastes, or interpersonal where delegation is intuitionally necessay or … where decison making is 'as if' there is delegation.  This is possible if decision making is through voting - an existence …
Persistent link: https://www.econbiz.de/10011004163
policy delegation should also be applied to the macroeconomic aspects of fiscal policy.  A number of countries have recently … the objectives of monetary policy, may help explain key differences in the nature of delegation between the two.  The … paper ends by making some comparisons between the delegation of monetary and fiscal policy in the United Kingdom. …
Persistent link: https://www.econbiz.de/10008852053
achieved through delegation to an `environmental policymaker`, akin to a conservative central banker. …
Persistent link: https://www.econbiz.de/10004977883
In this paper we study the delegation of a production process in a three-tier hierarchy. The principal contracts …
Persistent link: https://www.econbiz.de/10005090666
This paper studies a simultaneous-move infinite-horizon delegation game in which the principal of a durable goods … delegation contract allows for continual interference with managerial incentives: in each period the principal rewards the … manager according to her performance. We show that when the cost of delegation is low relative to profits, the principal can …
Persistent link: https://www.econbiz.de/10005047825
This paper extends the standard model of bundling to allow products to be substitutes and for products to be supplied by separate sellers.  Whether integrated or separate, firms have an incentive to introduce a bundling discount when demand for the bundle is elastic relative to demand for...
Persistent link: https://www.econbiz.de/10009318137
We consider an observer who makes a finite number of observations of an industry producing a homogeneous good, where each observation consists of the market price and firm specific production quantities.  We develop a revealed preference test (in the form of a linear program) for the hypothesis...
Persistent link: https://www.econbiz.de/10008677354
products to consumers.  We also find that stochastic discounts facilitate collusion by reducing the market share that can be …
Persistent link: https://www.econbiz.de/10011004203
somemisallocation of products to consumers. We also find that the bargainers facilitate collusion byreducing the market share that can …
Persistent link: https://www.econbiz.de/10011133058