are contractible, an ‘attention race’ arises, as each manager tries to sway the employee’s effort his way. While this may …

We develop a model of manager-employee relationships where employees care more for their manager when they are more … — namely, a lot of attention — which will induce the employee to stay at the firm and work hard. Our predictions are well in …

the effect of connecting a household to the grid and of the quality of electricity, defined as hours of daily supply. The … quality of electricity (in terms of fewer outages and more hours per day) increases non-agricultural incomes by about 28 …

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are … entrepreneurial effort allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we … find evidence that high-quality inventions are sold under preemptive bidding competition. Asymmetric information problems …

We analyse the effect of competition on quality in hospital markets with regulated prices, considering both the effect … structure, we show that the relationship between competition and quality is generally ambiguous. In contrast to the received …

Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however …, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from R … quality and marginal cost are both subject to chance. In a static framework (no repeat purchases and no informed consumers …