We develop a model of hierarchies based on the allocation of authority. A firm's owners have ultimate authority over a … analyze the optimal chain of command given that different agents have different tasks: some agents are engaged in coordination …

decentralization, however. We also compare three different hierarchy designs: two balanced hierarchies and the fastest (skip …-level) hierarchy, proposed by Radner. Skip-level reporting outperforms balanced hierarchies in terms of decision speed and in terms of …

respect to decision quality: two strictly balanced hierarchies and the fastest hierarchy, which is the skip-level reporting …

restructured. Restructuring yields hierarchies with fewer layers and fewer managers, all working under incentive pay and providing …

This paper examines the optimal structure of hierarchies when workers differ in the range of tasks they can perform. A …

This paper provides a formal analysis on the investment coordination problem in a vertically separated electricity … decisions of network and power plants need to be coordinated. In unbundled markets, firm-internal coordination no longer applies …. We develop a formal approach to examine whether sim- ple information exchange ("cheap talk") could restore coordination …

This paper provides a formal analysis on the investment coordination problem in a vertically separated electricity … decisions of network and power plants need to be coordinated. In unbundled markets, firm-internal coordination no longer applies …. We develop a formal approach to examine whether sim- ple information exchange ("cheap talk") could restore coordination …