We consider a joint assortment, inventory, and pricing problem of a retailer selling multiple vertically differentiated products of a single category. Consumers are heterogeneous in their willingness to pay for product quality. But the retailer only knows the distribution of consumer...

This paper investigates the performance of three forms of organizations: hierarchies, oiligarchies and committees. Sah and Stiglitz (1986) show that hierarchies and polyarchies differ in their information processing abilities in terns of type-1 and type-1 I errors, with 'fallible' agents making...