"The market has both a coordination function and an incentive function. The first theorem of welfare economics is all about coordination; the principal-agent model is all about incentives. What is the relative importance of the market in carrying out these two functions? While there has been a...

"The market has both a coordination function and an incentive function. The first theorem of welfare economics is all about coordination; the principal-agent model is all about incentives. What is the relative importance of the market in carrying out these two functions? While there has been a...

Die bisher entstandenen marktwirtschaftlichen Strukturen in den Distributionssystemen der ehemaligen Planwirtschaften Mittel- und Osteuropas können als Indikatoren für den Entwicklungsstand und die Funktionsfähigkeit der Wettbewerbsordnungen in den jeweiligen Ländern angesehen werden.Der...