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The hold-down problem and the boundaries of the firm : lessons from a hidden action model with endogenous outside option

Schnedler, Wendelin; Sunde, Uwe - 2002

This paper offers a rationale for limiting the delegation of (real) authority, which neither relies on insurance …

Persistent link: https://www.econbiz.de/10011410683

The hold-down problem and the boundaries of the firm : lessons from a hidden action model with endogenous outside option

Schnedler, Wendelin; Sunde, Uwe - 2002

Persistent link: https://www.econbiz.de/10001672586

Division of labour and directed production

Ratto, Marisa; Schnedler, Wendelin - 2005

We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...

Persistent link: https://www.econbiz.de/10003114944

Externalities and the allocation of decision rights in the theory of the firm

Bester, Helmut - 2004 - Version 1.3, April 2004

This paper views authority as the right to undertake decisions that have external effects on other members of the … this in a principal-agent model where the principal retains the authority to select ' large' projects but delegates the …

Persistent link: https://www.econbiz.de/10010366572

Externalities, communication and the allocation of decision rights

Bester, Helmut - 2005

This paper views authority as the right to undertake decisions that impose externalities on other members of the … organization's decisions. Under asymmetric information, the efficient allocation of authority depends on the communication of …

Persistent link: https://www.econbiz.de/10010371079

Hidden insurance in a moral hazard economy

Bertola, Giuseppe; Koeniger, Winfried - 2013

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...

Persistent link: https://www.econbiz.de/10010225898

Hidden insurance in a moral hazard economy

Bertola, Giuseppe; Koeniger, Winfried - 2013

Persistent link: https://www.econbiz.de/10010208571

Multi-tier hierarchies : a moral hazard approach

Coleff, Joaquin; Sebastián Ivars, Juan Sebastián - 2024

authority over each project to these three individuals. When an individual has authority over one project, which is not … he puts effort in and a share of the project's profit for which he has authority. This creates a double moral hazard … delegation, that is, an internal organization in which the CEO has authority over one project and one agent has authority over …

Persistent link: https://www.econbiz.de/10014537139

Delegation and communication

Arve, Malin; Honryo, Takakazu - 2015

This paper analyzes delegation and joint decision making in an environment with private information and partially aligned preferences. We compare the benefits of these two decision making procedures as well as the interaction between them. We give a condition under which delegation is preferred...

Persistent link: https://www.econbiz.de/10011345755

Supplier search and re-matching in global sourcing : theory and evidence from China

Defever, Fabrice; Fischer, Christian; Südekum, Jens - 2017

In this paper, we consider a dynamic search-and-matching problem of a firm with its intermediate input supplier. In our model, a headquarter currently matched with a supplier, has an interest to find and collaborate with a more efficient partner. However, supplier switching through search and...

Persistent link: https://www.econbiz.de/10011754216

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