Fuchs, William; Garicano, Luis; Rayo, Luis - Centre for Economic Performance, LSE - 2014
We study contractual arrangements that support an efficient use of time in a knowledge-intensive economy in which … informational problems, since both the difficulty of the questions posed to consultants and the knowledge of those consultants are … intermediate knowledge) cannot be appropriately excluded from the market. However, an ex-ante, firm-like contractual arrangement …