We investigate the problem of selecting capital investments in an organizational context with asymmetric information. In a principal-agent model where a manager (agent) has superior information about the investment costs of n available mutually exclusive projects, we develop the owner´s...

Modern agricultural marketing cooperatives must implement farm-level differentiation to meet requirements from high-quality market segments, e.g. consumers focusing on animal welfare. This makes the cooperatives internally heterogeneous and increases the influence costs. In particular, the...

Multi-period multi-product regulatory schemes for electricity distributors are presented, based on cost information from a productivity analysis model and an agency theoretical decision model. The proposed schemes are operational and demonstrate considerable advantages compared to the popular...

In this paper, we discuss the pros and cons of using Data Envelopment Analysis (DEA) to evaluate and enhance the efficiency of natural resource management. The need for a multi-dimensional production frontier approach is sketched, along with examples from other regulated multi-output industries....

We show how different competitive regimes affect the ability to provide incentives based on noisy information systems. Reduced competition facilitates incentive provision. This may rationalize both vertical integration and horizontal integration as seen in many agricultural markets with...