I study a class of agency problems that are characterized by the existence of an underlying organizational hierarchy. Specifically, I analyze a two forked, three tiered hierarchy and I show that when the private information of the players in the second and in the third tiers of the hierarchy,...

While it is clear that in most settings, landlords generally contract with many tenants whose productivities are positively correlated, the salience of relative performance evaluation in the design of rural wage contracts has been little studied in development economics. This paper analyzes two...

We analyze two hitherto little studied but salient questions concerning the trinity of asymmetric information, entrepreneurial activity, and the scope of fiscal policy in an open regional economy. First, we use a two period model to analyze the contractual relationship between entrepreneurs and...