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We develop an organizational governance model with a single buyer and endogenous upstream entry. Investments and control rights over assets and actions are immediately contractable; production is …
Discussion paper
In industries where consumption generates negative externalities and internalities, governments can attempt to curb excess demand by restricting supply. However, this strategy may simply shift …
Discussion paper
We build a simple formal model of governance. Investments and control rights over assets and labor are fully contractible, but final production decisions are ex ante uncontractible, and ex post …
Discussion paper
This paper explores the connection between jurisdictional fragmentation and sprawl. We utilize Finnish municipal mergers as a quasi-experiment which induces exogenous variation in the number of local …
Discussion paper