This paper analyses the relation between authority and incentives. It extends the standard principal / agent model by a … project selection stage in which the principal can either delegate the choice of project to the agent or keep the authority … consideration of e ort incentives makes the principal less likely to delegate the authority over projects to the agent. In fact, if …

transaction costs in water chains by developing integrated forms of water management. Integrated water management in case of river … basin authority for an efficient co-ordination of policy measures in the relevant area, (3) developing a coherent policy … management concepts from a theoretical and practical point of view. Moreover, we will explore the potential of efficient …