We propose a model in which economic relations and institutions in advanced and less developed countires differ as these societies have access to different amounts of information. The lack of information in less developped economies makes it hard to evaluate the performance of managers, and...

This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...

This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...