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relates to the candidates type . Delegation is then superior to direct (owner) recruitment and offering tenure or guaranteed …
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This paper provides a theoretical model for explaining the separation of ownership and control in firms. An entrepreneur hires a worker, whose effort is necessary for running a project. The worker's effort determines the probability that the project will be completed on time, but the worker...
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We present a model of delegation with moral hazard. A principal delegates a decision to an agent, who affects the … economic environments. Optimal delegation takes one of four simple forms, all commonly used in practice: floors, ceilings …
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institutional moral hazard in a multi-tiered UI system, and give examples of monitoring methods and incentives to ameliorate such …
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