The research tests Oliver Williamson’s proposition that transaction cost economics can explain the limits of firm size. Williamson suggests that diseconomies of scale are manifested through four interrelated factors: atmospheric consequences due to specialisation, bureaucratic insularity,...

Managerial diseconomies of scale are often discussed but seldom studied. The purpose of the current research is to open up avenues of inquiry into this potentially important topic. The research tests whether diseconomies of scale influence corporate performance. It uses Coasian transaction cost...

This working paper tests Oliver Williamson’s proposition that transaction cost economics can explain the limits of firm size. A review of the relevant literature corroborates Williamson’s theoretical framework and five hypotheses are formulated: (1) Bureaucratic failure, in the form of...

The research tests Oliver Williamson’s proposition that transaction cost economics can explain the limits of firm size. Williamson suggests that diseconomies of scale are manifested through four interrelated factors: atmospheric consequences due to specialisation, bureaucratic insularity,...

This paper models aid agencies as financial intermediaries that do not make a financial return to depositors, since the depositors' concern is to transfer resources to investor-beneficiaries. This leads to a significant problem of verification of the agencies' activities. One solution to this...

See also the publication in the <I>European Economic Review</I>, 2002, 301-327.<P> The paper considers a two-country model of overlapping generations heterogenouseconomies with intergenerational transfers carried out in the form of bequest and investmentin human capital. We examine in competitive...</p></i>

The paper considers a two-country model of overlapping generations heterogenous

Many street-level bureaucrats (such as caseworkers) have the dual task of helping some clients, while sanctioning others. We develop a model of such a street-level bureaucracy and study the implications of its personnel policy on the self-selection and allocation decisions of agents who differ...

Many street-level bureaucrats (such as caseworkers) have the dual task of helping some clients, while sanctioning others. We develop a model of such a street-level bureaucracy and study the implications of its personnel policy on the self-selection and allocation decisions of agents who differ...