In this essay I suggest a first-best solution to the collusion problem in a three-levels principal-supervisor-agent hierarchy (Tirole 1986, Laffont-Tirole 1993) in the context of a repeated games model. I introduce a new player in the component game i.e. a group of consumers which is also...

This paper first sets a definition of corporate social responsibility (CSR) as an extended model of corporate governance and then accounts for a voluntary approach to CSR, meant as voluntary compliance with CSR strategic management standards, in terms of an economic theory of self-regulation....

[Abstract]