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Formal and Real Authority in Organizations
This paper develops a theory of the allocation of formal authority (the right to decide) and real authority (the effective control over decisions) within organizations, and it illustrates how a…
Financial Intermediation, Loanable Funds, and The Real Sector
- Bengt Holmstrom, J. Tirole
- Economics
- 1 August 1997
We study an incentive model of financial intermediation in which firms as well as intermediaries are capital constrained. We analyze how the distribution of wealth across firms, intermediaries, and…
The Theory of Industrial Organization
- J. Tirole
- Economics
- 1988
The Theory of Industrial Organization is the first primary text to treat the new industrial organization at the advanced-undergraduate and graduate level. Rigorously analytical and filled with…
Intrinsic and Extrinsic Motivation
- R. Bénabou, J. Tirole
- Psychology
- 1 July 2003
A central tenet of economics is that individuals respond to incentives. For psychologists and sociologists, in contrast, rewards and punishments are often counterproductive, because they undermine…
A Theory of Incentives in Procurement and Regulation
- J. Laffont, J. Tirole
- Economics
- 1993
More then just a textbook, A Theory of Incentives in Procurement and Regulation will guide economists' research on regulation for years to come. It makes a difficult and large literature of the new…
The theory of corporate finance
- J. Tirole
- Economics, Business
- 2006
The past twenty years have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations--equity, debt, and…
Self-Confidence and Personal Motivation
- R. Bénabou, J. Tirole
- Economics
- 1 August 2002
We analyze the value placed by rational agents on self-confidence, and the strategies employed in its pursuit. Confidence in one's abilities generally enhances motivation, making it a valuable asset…
Incentives and Prosocial Behavior
- R. Bénabou, J. Tirole
- Economics, Psychology
- 1 September 2004
We develop a theory of prosocial behavior that combines heterogeneity in individual altruism and greed with concerns for social reputation or self-respect. Rewards or punishments (whether material or…
Preemption and Rent Equalization in the Adoption of New Technology
- D. Fudenberg, J. Tirole
- Economics
- 1 July 1985
We study the adoption of a new technology to illustrate the effects of preemption in games of timing. We show that the threat of preemption equalizes rents in a duopoly, but that this result does not…
Some Simple Economics of Open Source
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