Learning is crucial to organizational decision making but often needs to be delegated. We examine a dynamic delegation … delegation as a dynamic mechanism design problem and characterize the optimal delegation scheme. We show that private learning … discuss implications on learning delegation for distinct organizations. …

and public signals. We show that competition leads the two firms to invest too early and analyze collusion schemes whereby … one firm prevents the other firm from entering the market. We show that, in the efficient collusion scheme, the active …