I present a study of ownership of firms under government rent seeking. Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such a government rent seeking activity leads to a typical hold-up problem. Government ownership is shown...

A hierarchically structured rent-seeking contest may be associated with lower equilibrium expenditure than a corresponding flat contest. In this chapter we discuss how this fact may be used to explain the structure of organizations such as firms, including why firms commonly have outside owners.

Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such government rent-seeking activity leads to a typical hold-up problem. Government ownership serves as a second-best commitment mechanism, through which the government agency...

A hierarchically structured rent-seeking contest may be associated with lower equilibrium expenditure than a corresponding flat contest. In this chapter we discuss how this fact may be used to explain the structure of organizations such as firms, including why firms commonly have outside owners.

A hierarchically structured rent-seeking contest may be associated with lower equilibrium expenditure than a corresponding flat contest. In this chapter we discuss how this fact may be used to explain the structure of organizations such as firms, including why firms commonly have outside owners.

Economic complexity can be defined as the level of interdependence between the component parts of an economy. In input-output systems, intersectoral connectedness is a crucial feature of analysis, and there are many different methods for measuring it. Most of the measures, however, have...

A model in which heterogeneous agents form firms is described and empirically tested. Each agent has preferences for both income and leisure and provides a variable input ('effort') to production. There are increasing returns to cooperation, and agents self-organize into productive teams. Within...

This paper reconstructs Revealed Comparative Advantages (RCA) and Economic Complexity Indices (ECI) for a large number of countries in the second half of the 19th century, by using data from the catalogues of five universal exhibitions held in Paris in 1855, 1867, 1878, 1889, and 1900. This...