The so-called buffer time or buffer delay allows airlines to control for excessive delays by introducing extra time in … being a hub - served by a single airline. Welfare losses that follow from delays are relatively small as compared to the … connections that are considered, fares rather than delays should be the focus of institutions aiming at enhancing passengers …

compromise in project selection and equilibrium effort. Imposing deadlines for presenting counteroffers is beneficial, while …

members have perfectly aligned interests the group may inefficiently delay decisions. When deadlines are far away, uninformed … group members freeride on each others' efforts to acquire information. When deadlines draw close, informed group members …

We analyse the optimal delegation of decision rights by a uninformed principal to an informed but biased agent. When … his preferred one. We fully characterize the optimal delegation set for general distributions of the state space and … delegation sets to be optimal. Finally, we show that the optimal delegation set takes the form of a single interval if the agent …

Using an agency model, we show how delegation, by generating additional private information, improves dynamic … incentives under limited commitment. It circumvents ratchet effects and facilitates the revelation of persistent private … effect which reduces an inefficient agent's take-the-money-and-run incentive. Although delegation entails a loss of control …

It has been argued that delegation of monetary policy to an independent central bank, which acts as an agent for the … that delegation enables a wider class of economies to sustain zero inflation than would be able to do so in its absence. We …

the agent is protected by limited liability, delegation is never optimal. …