Mookherjee, Dilip; Reichelstein, Stefan - In: Advances in Theoretical Economics 1 (2001) advances/1/1, pp. 1009-1009
branches of the hierarchy. In a principal-agent setting with private information, it is shown that under certain assumptions … (top-down contracting, observability of subcontracting outcomes, absence of limited liability constraints) the hierarchy … provides conditions for the lack of a `control loss' from hierarchical decentralization of decision making, owing to incentive …
