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Research in sociology and ethics suggests that individuals adhere to social norms of behavior established by their peers. Within an agency framework, we model endogenous social norms by assuming that each agent’s cost of implementing an action depends on the social norm for that action,...
Persistent link: https://www.econbiz.de/10005573699
Russia's post-reform crisis can be alleviated. The country has the market, the abundant natural resources and the human skills that foreign investors seek. What it needs is policies that enhance FDI inflows. Policy-makers can learn from the other large emerging markets like China, India, and...
Persistent link: https://www.econbiz.de/10012054279
CHAPTER 1: Informational Control and Organizational DesignThis essay focuses on organizational issues of allocating authority between an uninformed principal and an informed expert. We show that the established result of Dessein (2002) that delegating decisions to a perfectly informed expert is...
Persistent link: https://www.econbiz.de/10009449961