"Peter Block, the author of the classic Flawless Consulting, is a true visionary. And here he turns his sights on management. Managers and other employees who feel powerless to control their own destinies, who feel stifled by bureaucracy, who feel sapped of creativity--will feel invigorated by...

Using an agency model, we show how delegation, by generating additional private information, improves dynamic incentives under limited commitment. It circumvents ratchet effects and facilitates the revelation of persistent private information through two effects: a play-hardball effect, which...