The O-Ring theory provides a framework for analyzing the effects of team production on the emergence of firms in the … New Economy. Given risk-aversion of the potential team members, the productive advantage of perfect ability matching in … the team members. At the same time, abilities remain private information of the employees in "managed" firms organized on …

The O-Ring theory provides a framework for analyzing the effects of team production on the emergence of firms in the … New Economy. Given risk-aversion of the potential team members, the productive advantage of perfect ability matching in … the team members. At the same time, abilities remain private information of the employees in managed firms organized on …

The O-Ring theory provides a framework for analyzing the effects of team production on the emergence of firms in the … New Economy. Given risk-aversion of the potential team members, the productive advantage of perfect ability matching in … the team members. At the same time, abilities remain private information of the employees in managed firms organized on …

. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …

A monopolist is treated as a nexus of contracts with team production. It has one ownermanager. The owner-manager is the … employer of two employees. A team production problem is present if the employer is a "managerial lemon". If the team production …

We use experiments to compare two institutions for allocating the proceeds of team production. Under revenue …-sharing, each team member receives an equal share of team output; under leader-determined shares, a team leader has the power to … implement her own allocation. Both arrangements are vulnerable to opportunistic incentives: under revenue sharing team members …

information sharing to a standard team production setting. A team with two agents can choose whether they want to work on a status … optimal for team surplus to give a higher share to the more productive agent in order to optimally motivate. If agents have …