Eliminating price supports: a polit. economy perspective
In: Working paper series 8902
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In: Working paper series 8902
In: The Rand journal of economics, Band 43, Heft 3, S. 391-416
ISSN: 1756-2171
Searching for the best worker, a reliable supply alternative, or the most profitable investment is frequently delegated to an agent. This article develops a theory of delegated search. We show that the principal's ability to delegate depends on the agent's luck, her initial resources, and the contract that governs her search. With moral hazard, the optimal contract is characterized by performance deadlines with bonuses for early completion. If performance cannot be specified, the optimal search is implemented by an option‐to‐buy contract for the principal. If performance is partially specified, the optimal contract is a standard pay‐for‐performance arrangement.
In: The Rand journal of economics, Band 27, Heft 4, S. 819
ISSN: 1756-2171
In: Journal of development economics, Band 28, Heft 1, S. 137-139
ISSN: 0304-3878
In: The Rand journal of economics, Band 17, Heft 2, S. 141
ISSN: 1756-2171
In: The Canadian Journal of Economics, Band 18, Heft 3, S. 665
In: The Canadian Journal of Economics, Band 14, Heft 3, S. 422
In: The Bell journal of economics, Band 11, Heft 1, S. 292
In: The Canadian Journal of Economics, Band 18, Heft 3, S. 459
In: Economica, Band 51, Heft 204, S. 393
In: American economic review, Band 92, Heft 4, S. 779-797
ISSN: 1944-7981
In many important high-technology markets, including software development, data processing, communications, aeronautics, and defense, suppliers learn through experience how to provide better service at lower cost. This paper examines how a buyer designs dynamic competition among rival suppliers to exploit learning economies while minimizing the costs of becoming locked in to one producer. Strategies for controlling dynamic competition include the handicapping of more efficient suppliers in procurement competitions, the protection and allocation of intellectual property, and the sharing of information among rival suppliers.
In: The Rand journal of economics, Band 33, Heft 1, S. 22
ISSN: 1756-2171
In: The Canadian Journal of Economics, Band 21, Heft 2, S. 221
In: The Canadian Journal of Economics, Band 17, Heft 3, S. 605
In: The Bell journal of economics, Band 13, Heft 1, S. 263