This paper studies hierarchical organizations where concerns for fast execution are important and employees must be coordinated to avoid wasteful duplications of effort. Simple conditions are provided for the time spent on coordinating subordinates to be increasing and the span of control to be...

This research examines the effects of three defining features of bureaucratic organizations—hierarchy, centralization of decision making, and the formalization of administrative procedures and rules—on the fiscal health of city governments in the U.S. It utilizes data from a national survey...

While existing studies usually model promotion as a bilateral interaction between promoter and promotee, it is not uncommon that the promoter is under the influence of a third-party. For instance, authoritarian rulers may consider how their interactions with local agents change the way that...

Traders differ in speed and their speed differences matter. I model strategic interactions induced when high frequency traders (HFTs) have different speeds in an extended Kyle (1985) framework. HFTs are assumed to anticipate incoming orders and trade rapidly to exploit normal-speed traders'...