Using an agency model, we show how delegation, by generating additional private information, improves dynamic … effect which reduces an inefficient agent's take-the-money-and-run incentive. Although delegation entails a loss of control …, it is optimal when uncertainty about operational efficiency is large. Moreover, delegation is more effective with …

Using an agency model, we show how delegation, by generating additional private information, improves dynamic … effect which reduces an inefficient agent’s take-the-money-and-run incentive. Although delegation entails a loss of control …, it is optimal when uncertainty about operational efficiency is large. Moreover, delegation is more effective with …

prices by introducing delegation into a standard Lucas exchange economy. In equilibrium, some investors trade on their own …

paper views the implementation of TELs as a principal-agent problem. Agency theory predicts that delegation is affected by … require costly coordinated action. These findings contradict an alternative theory of TEL implementation that looks towards … the policy’s origin. My research suggests that the arrangements of delegation determine when and under what conditions …

schemes for the workers. We show that the value of delegation as well as the optimal design of the compensation scheme …

factory efficiency. Using the principal-agent (agency) paradigm, which assumes that the marketing and manufacturing managers …

delegation on prices and incentives. The theory builds on the simplest framework of competition in two dimensions: prices and … other firms do not. This paper analyzes the impact of competition on the delegation decision and, in turn, the impact of … price-delegation decision and, if yes, why? (2) How do prices vary under price-delegation and no-price-delegation scenarios …

, their conceptions of science and regional planning and policies, theories and methods, space, time and agency, six …

This paper develops a theory of sequential lending in groups in micro-finance that centers on the notion of dynamic …