One of the policy options to increase the efficiency in the provision of scarce water resources is a reduction in transaction costs in water chains by developing integrated forms of water management. Integrated water management in case of river basin areas may comprise inter alia: (1) increasing...

In this laboratory experiment we study the use of strategic ignorance to delegate real authority within a firm. A worker can gather information on investment projects, while a manager makes the implementation decision. The manager can monitor the worker. This allows her to better exploit the...

Patricia H. Werhane is the Callista Wicklander Chair of Business Ethics and Director, Institute for Business and Professional Ethics at DePaul University. She was formerly the Peter and Adeline Ruffin Chair of Business Ethics and Senior Fellow at the Olsson Center for Applied Ethics in the...