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• W2495086671 abstract "Abstract This chapter models the optimal degree of delegation and centralization of government as the degree of availability of communication between periphery and centre in a hierarchy. Under bounded rationality, delegation is shown to be superior as it uses more information than centralization. Under delegation with risk‐averse agents, it is shown that new transaction costs are introduced since the risk‐averse agent will require a risk premium for incentive compatibility." @default.
• W2495086671 created "2016-08-23" @default.
• W2495086671 creator A5084485627 @default.
• W2495086671 date "2001-10-18" @default.
• W2495086671 modified "2023-09-25" @default.
• W2495086671 title "Collusion and Decentralization" @default.
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• W2495086671 doi "https://doi.org/10.1093/0199248680.003.0009" @default.
• W2495086671 hasPublicationYear "2001" @default.
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