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| Author: | Gal-Or, E. |
| Title: | Multiprincipal agency relationships as implied by product market competition |
| Journal: | Journal of Economics and Management Strategy
1997 : SUMMER, VOL. 6:2, p. 235-256 |
| Index terms: | REVALUATION MARKETS COMPETITION AGENCIES CONTRACTS |
| Language: | eng |
| Abstract: | This article surveys work in contract theory that relates to the allocation of tasks among agents within an organization as well as to the effect of product market competition upon optimal contracting and agency costs. Incorporating the interaction among multiple agents or principals in the derivation of an optimal organizational design requires paying attention to several key variables such as the nature of the technological interaction among multiple activities within the organization and the nature of strategic interaction among competing principals in the marketplace, and the extent of correlation among the noisy signals that confront different activities within the firm or different competing firms. |
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