In this paper we want to analyze the internal divisional structure within an organi-

The paper studies agents' general or specific investment decisions under different ownership structures in a thin, decentralized market where each agent's decision affects the decisions and welfare of other agents mainly through indirect market linkages. It focuses on the roles of both...

Historically, European team sports leagues were run by their respective national and international associations and were legally independent from the professional clubs playing in these leagues. Recently, European leagues have adopted an organizational form similar to their North American...

We view a contract as a list of outcomes. Ex ante, the parties commit not to consider outcomes not on the list, i.e., these are "ruled out". Ex post, they freely bargain over outcomes on the list, i.e., the contract specifies no mechanism to structure their choice; in this sense outcomes on the...