incentives tradeoff with effort incentives. This makes some intra-firm price competition inevitable. When quality improving … effort generates positive spillovers, the optimal amount of price competition can be as great or greater than when the … products are under separate ownership. Even with some profit sharing, intra-firm price competition can be severe enough that …

inefficient risk-sharing. These experimental outcomes, while anomalous from the standpoint of principal-agency theory, are quite … may allow an outcome preferred, by both principal and agent, to that deemed possible by principal-agency theory. If this … is true, then the lessons to be learned from principal-agency theory are all the wrong ones. Concentrating on incentives …

The theory of agency, which has seen many recent applications in the social sciences and management literatures, is … essentially a theory of failures: It seeks to understand the problems created when one party attempts to control another …. Indeed, applications of agency theory have cut across the economics literature and entered the study of many disciplinary …

&D investment, and derive predictions on the effects of trust and competition on suppliers' investment and buyers' procurement … - but also with more competitive procurement: trust and rents from reduced supplier competition in the procurement process … emerge as substitutes both in theory and in the data. …

increasing offshoring activity increases competition in the final goods market, leading to a progressive vertical disintegration … of the supply chains. Initially, the firms that decide to explore offshoring potential choose integration. As competition … fully domestic supply chains, the increasing competition promotes a sequential disintegration of the domestic intermediate …

investment banks and rating agencies have screening know-how and can alleviate adverse-selection problems. In competition …