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Political parties play a crucial gatekeeping role in elections, including controlling electoral resources, candidate recruitment, and electoral list compositions. In making these strategic choices, parties aim to encourage candidates to invest in the campaign, while also trying to secure...
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individuals have heterogeneous social and cognitive skills. In the model, there are gains to specialization and team production …, but specialization requires communication and coordination between team members, and individuals with more social skills …
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Several empirical findings have challenged the traditional view on the trade-off between risk and incentives. By combining risk aversion and limited liability in a standard principal-agent model the empirical puzzle on the positive relationship between risk and incentives can be explained....
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We study the role of information exchange, leadership and coordination in team or partnership structures. For this … purpose, we view individuals jointly engaging in productive processes-a "team"-as endowed with individual and privately held … information on the joint production process. Once individual information is shared, team members decide individually on the effort …
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This paper analyzes the efficiency of team production when agents exhibit other regarding preferences. It is shown that …
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