Kessler, Anke S.; Lülfesmann, Christoph - In: FinanzArchiv: Public Finance Analysis 58 (2001) 2, pp. 167-167
The paper compares productive efficiency in public and private firms. We study a principal-agent model in which the firm's manager is privately informed about a cost parameter and exerts unobservable cost reducing effort, while the owner can conduct costly audits to obtain information about the...