We formalize a conception of authority, which is commonly defined as the right of controlling a person's actions … embedded in human assets in sociology. Due to the inalienable property of human assets, the contractible formal authority is … hard to verify and enforce, while real authority usually diverges from formal authority. Inefficiency tends to arise when a …

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However … behavioral forces shape an important transaction cost of integration - the abuse of authority - and by providing an empirical …

We formalize a conception of authority, which is commonly defined as the right of controlling a person's actions … embedded in human assets in sociology. Due to the inalienable property of human assets, the contractible formal authority is … hard to verify and enforce, while real authority usually diverges from formal authority. Inefficiency tends to arise when a …

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However … behavioral forces shape an important transaction cost of integration - the abuse of authority - and by providing an empirical …

(1951), economics defines authority as the opportunity for the employer to postpone the selection of the tasks the employee …