may remove all managers' short-run gains from deviation making collusion supportable at any discount factor. The results …

environmental impact, the bureau is permitted to set its own preferred policy (optimal delegation). …

The problem that we address in this paper stems from the trend to delegation in the water management field. The problem … discuss the specific characteristics of the delegation auction that render it useless as a tool for collective welfare … revoke delegation and return to direct management, is also ineffective due to a lack of credibility that is essentially …

This paper addresses the question of delegation in an organisation where there is an initial asymmetry of information … be contracted for. With these simple contracts, we show that delegation is an alternative to contracting to elicit agent … sequence of decisions, the information learned by the principal can be used for the other decisions. So delegation is only …

evenly among the team members, including the delegate. We find that delegation causes a small reduction in the group …

besides reducing the agency costs of debt finance also greatly facilitate tacit collusion in product markets. Concentrated or …-proofness), thereby "exporting" collusion through leverage in otherwise competitive downstream product markets. …

reduce or at best cancel sanctions for price-fixing firms that self-report -- may make collusion enforceable even in one …-shot competitive interactions, like Bertrand oligopolies and first-price auctions, where no collusion would be supportable otherwise …