The purpose of this paper is to examine how tasks should be allocated in a simple hierarchy consisting of an organizational designer and subordinates, in the framework of a principal-agent relationship with moral hazard.

Recent growth in fringe benefits is attributable to increases in both legally required and voluntarily provided benefits. Therefore, predictions based upon the conventional firm-level analysis, in which non-wage payments are assumed to be entirely exogenous, should be reexamined.

This paper deals with hypothesis testing in vector autoregressive (VAR) models that may contain some unit roots. We consider situations in which the researcher's goal is not detecting the presence (absence) of unit roots or their location (i.e. cointegrating relations), but testing some economic...

Because of very concrete knowledge of race and sex discrimination, a particularly important class of peer group effects arise when agents of one type want to associate with agents of another type, while agents of that other type prefer association among themselves. Competitive provision in the...