Cilliers, Jacobus; Kasirye, Ibrahim; Leaver, Clare; … - 2016
efficient outcome. This paper develops a theoretical model that shows why, and for which parameters, the welfare …-enhancing Coasian scenario exists. Focusing on education, we model how the preferences of a teacher (agent) and head-teacher (local … attached to reports. To capture the value of information, we also consider the welfare of a bureaucracy that makes a costly …