This paper studies the implications of non-commitment for organizational design. An organizational form must trade-off between the coordination benefits associated with the centralization of information and its associated costs in terms of renegotiation. The analysis makes precise what these...

This paper provides an axiomatic characterization of two rules for comparing alternative sets of objects on the basis of the diversity that they offer. The framework considered assumes a finite universe of objects and an a priori given ordinal quadernary relation that compares alternative pairs...