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Delegation Versus Centralization : The Role of Externalities

Currarini, Sergio; Feri, Francesco - 2012

We study a simple contracting game with a principal and two agents. Contracts exert an externalities on non contractors …

Persistent link: https://www.econbiz.de/10014054349

Externalities and the allocation of decision rights in the theory of the firm

Bester, Helmut - 2004 - Version 1.3, April 2004

This paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision maker's objective. The optimal assignment of...

Persistent link: https://www.econbiz.de/10010366572

Contributing or free-riding? : voluntary participation in a public good economy

Furusawa, Taiji; Konishi, Hideo - In: Theoretical economics : TE ; an open access journal in … 6 (2011) 2, pp. 219-256

We consider a (pure) public goods provision problem with voluntary participation in a quasi-linear economy. We propose a new hybrid solution concept, the free-riding-proof core (FRP-Core), which endogenously determines a contribution group, public goods provision level, and how to share the...

Persistent link: https://www.econbiz.de/10011694996

Partnership Dissolution with Cash-Constrained Agents

Pommey, Guillaume - 2021

When partnerships come to an end, partners must find a way to efficiently reallocate the commonly owned assets to those who value them the most. This requires that the aforementioned members possess enough financial resources to buy out the others’ shares. I investigate ex post efficient...

Persistent link: https://www.econbiz.de/10013324334

Information transmission within federal fiscal architectures : theory and evidence

Gehring, Kai; Kotsogiannēs, Chrēstos; Marchesi, Silvia - 2013

-agent framework, it analyzes two alternative policy-decision schemes - "decentralization" and "centralization" - when "knowledge …

Persistent link: https://www.econbiz.de/10010126407

Information transmission and ownership consolidation in aid programs

Dreher, Axel; Marchesi, Silvia - 2013

example of a "delegation-scheme." Conversely, project aid represents a more "centralized" type of aid. According to the theory … of policies should be increased (delegation). Conversely, there should be less freedom in designing policies when donors … ́information is more relevant (centralization). The empirical analysis confirms that the importance of donors ́private information …

Persistent link: https://www.econbiz.de/10010199746