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The engineering view of a measurable, supply-independent, demand for parking that can be expressed by “minimum parking codes” has been generally rejected during the last two decades and is gradually being replaced by “maximum provision” codes, limited parking development, and demand...
Persistent link: https://www.econbiz.de/10011209644
Persistent link: https://www.econbiz.de/10010824900
Public projects typically generate both monetary revenue and social benefits that cannot be monetized. We show that a government concerned with the credit rating of its debt should put different discount rates on these two aspects. The credit rating reflects the probability of default on the...
Persistent link: https://www.econbiz.de/10011056147
type="main" <p>I consider how different managerial traits affect the authority relation between a principal and his agent. An increase in the principal's domain knowledge—which enhances his capability to verify the agent's recommendations—leads to an increase in the proportion of the agent's...</p>
Persistent link: https://www.econbiz.de/10011034637
In this article, I present a theory of the boundary of the firm that accounts for some important characteristics of real-world multidivisional firms: operative decisions are in the hands of middle managers who are rewarded based on the performance of their units, managers' decisions are subject...
Persistent link: https://www.econbiz.de/10005562662
In this paper I study how the make-or-buy decision of a firm depends on the organization of its peers. I consider a multi-firm framework in which firms choose whether to integrate into the supply of an intermediate input or to outsource its production, and choose the size of their supplier...
Persistent link: https://www.econbiz.de/10005702679
I study the prospects for collusion between rival firms that share technological know-how. Two common forms of technology sharing are compared: a research joint venture (RJV) and licensing. Under licensing, firms can use the licensing fee to elicit higher levels of R&D than with an RJV. However,...
Persistent link: https://www.econbiz.de/10010573879
Persistent link: https://www.econbiz.de/10009840834
In this article, I present a theory of the boundary of the firm that accounts for some important characteristics of real-world multidivisional firms: operative decisions are in the hands of middle managers who are rewarded based on the performance of their units, managers' decisions are subject...
Persistent link: https://www.econbiz.de/10012716266
This paper analyzes the choice of deductible in insurance contracts that insure against a risk that, as is common, might materialize more than once during the life of the policy. As was established by Arrow (1963), from the perspective of risk-bearing costs, the optimal contract is one that uses...
Persistent link: https://www.econbiz.de/10005458994