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The Hold-Down Problem and the Boundaries of the Firm: Lessons from a Hidden Action Model with Endogenous Outside Option

Schnedler, Wendelin; Sunde, Uwe - 2002

This paper offers a rationale for limiting the delegation of (real) authority, which neither relies on insurance arguments nor depends on ownership structure. We analyse a repeated hidden action model in which the actions of a risk neutral agent determine his future outside option. Consequently,...

Persistent link: https://www.econbiz.de/10010262786

Management Incentives, Signaling Effects and the Costs of Vertical Integration

Sliwka, Dirk - 2003

The costs of vertical integration are analyzed within a game-theoretic signaling model. It is shown that a company when being vertically integrated with a supplier may well decide to buy certain components from this supplier even at a lower quality than that offered by external sources. When the...

Persistent link: https://www.econbiz.de/10010261581

Consistency in Organization

Schlicht, Ekkehart - 2003

Recent thinking has emphasized the importance of consistency in a firm?s compensation policy. By starting from Williamson?s ideas about idiosyncratic exchange, this view can be supplied with some theoretical foundation. At the same time, the consistency view can be applied to a number of...

Persistent link: https://www.econbiz.de/10010261986

Consistency in organization (updated)

Schlicht, Ekkehart - 2011

Internal organization relies heavily on psychological consistency requirements. This thought has been emphasized in modern compensation theory, but has not been extended to organization theory. The perspective sheds new light on several topics in the theory of the firm, like the boundaries of...

Persistent link: https://www.econbiz.de/10010278547

Use and abuse of authority: A behavioral foundation of the employment relation

Bartling, Björn; Fehr, Ernst; Schmidt, Klaus M. - 2012

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...

Persistent link: https://www.econbiz.de/10010291316

The life satisfaction approach to environmental valuation

Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - 2009

In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals' well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...

Persistent link: https://www.econbiz.de/10010271282

The rate of return to the High/Scope Perry Preschool Program

Heckman, James Joseph; Moon, Seong Hyeok; Pinto, Rodrigo; … - 2009

This paper estimates the rate of return to the High/Scope Perry Preschool Program, an early intervention program targeted toward disadvantaged African-American youth. Estimates of the rate of return to the Perry program are widely cited to support the claim of substantial economic benefits from...

Persistent link: https://www.econbiz.de/10010274261

Why Some Firms Train Apprentices and Many Others Do Not

Wolter, Stefan C.; Mühlemann, Samuel; Schweri, Juerg - 2003

The latest study investigating the cost-benefit ratio of apprenticeship training for Swiss companies has shown that most apprentices offset the cost of their training during their apprenticeship on the basis of the productive contribution of the work they perform. Given this outcome, it is worth...

Persistent link: https://www.econbiz.de/10010276566

How Outsourcing Affects Bilateral Political Relations

Polachek, Solomon W. - 2004

One issue the literature neglects is how outsourcing stimulates trade (imports, exports and foreign direct investment …

Persistent link: https://www.econbiz.de/10010262075

International fragmentation and relative wages in the UK

Hijzen, Alexander; Görg, Holger; Hine, Robert C. - 2003

international outsourcing. It is the first detailed study to address the effects of outsourcing on labour markets in the UK. In a … recent paper, Feenstra and Hanson (1996) estimate the effect of international outsourcing on wage inequality in the US. This … paper extends the FH approach by using more detailed definitions of outsourcing and skill. The analysis applies to UK …

Persistent link: https://www.econbiz.de/10010265562

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