This Element focuses on the efforts of interest groups who try to to influence a policy-maker who in turn exerts effort to increase the probability that a reform be implemented. It analyses linking of the allocative efficiency and redistribution of the aggregate surplus, as both depend on the...

In a public procurement setting, we discuss the desirability of completing contracts with state-contingent clauses providing for monetary compensations to the contractor when revenue shocks occur. Realized shocks are private information of the contractor and this creates agency costs of...

In a public procurement setting, we discuss the desirability of completing contracts with state-contingent clauses providing for monetary compensations to the contractor when revenue shocks occur. Realized shocks are private information of the contractor and this creates agency costs of...