Shang-Guan H. Wu

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In this note, we argue that there is a bug in [Tirole, J., " Hierarchies and bureaucracies: On the role of collusion in organizations, " In this note, the notation is referred to Ref. [1]. Vertical structures are represented by three-layer hierarchies: principal/supervisor/agent. The principal, who is the owner of the vertical structure or the buyer of the(More)
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