Public services can be, and are, delivered according to a variety of different arrangements. The public sector can finance and provide a service itself, or contract with the private sector to participate in provision, or its role may be limited to regulating a private provider. In this paper we...

We provide a simple asymmetric information model showing that, in contrast to portfolio diversification arguments, there is a natural complementarity between executive options and stock ownership. Moreover, managers can be made worse off by being granted more executive options.

A number of papers have suggested that pro-social behaviour in the workplace may be sensitive to the institutional environment, but there is little empirical research that attempts to test this directly using data on worker behaviour. This is the aim of this paper. We show that individuals in...