affected by management incentives that are often misaligned with the incentives of those who are exposed in various ways to the …

relates to the candidates type . Delegation is then superior to direct (owner) recruitment and offering tenure or guaranteed …

The existing delegation literature has focused on different preferences of principal and agent concerning project … selection, which makes delegating authority costly for the principal. This paper shows that delegation has a cost even when the … without task commitment and other behavioral effects the principal might forgo delegation though being efficient. …

schemes for the workers. We show that the value of delegation as well as the optimal design of the compensation scheme …

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 …