Much of the economics of organization deals with the formal rights and rules that govern
organizations, both in normative and positive analyses. Who should have legal claim to what …

This chapter surveys major issues arising in the economic analysis of contract law. It begins
with an introductory discussion of scope and methodology, and then addresses four main …

We review recent literature on the role of financial reporting transparency in reducing
governance-related agency conflicts among managers, directors, and shareholders, as well …

This paper is a survey of the literature on boards of directors, with an emphasis on research
done subsequent to the Benjamin E. Hermalin and Michael S. Weisbach (2003) survey. The …

This book provides a framework for thinking about economic instiutions such as firms. The
basic idea is that institutions arise in situations where people write incomplete contracts and …

Why does trust vary so substantially across countries? This paper presents a general
equilibrium growth model in which heterogeneous agents transact and face a moral hazard …

Motivating innovation is important in many incentive problems. This paper shows that the
optimal innovation‐motivating incentive scheme exhibits substantial tolerance (or even …

The paper takes stock of the advances and directions for research on the incomplete
contracting front. It first illustrates some of the main ideas of the incomplete contract literature …

Historically, bubbles are followed by crashes, which in turn are followed by punitive
legislation. The 1999–2003 era is fully consistent with this pattern….(Coffee, 2003a, p. 46) …

Environmental taxation has been a permanent feature of the policy agenda over the past few
decades. It has represented about 2.5 percent of GDP and 6 percent of total taxation in the …