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Managerial Dilemmas The Political Economy of Hierarchy (1992)

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Author(s): Gary J. Miller
Publisher: Cambridge University Press
Year: 2019

Language: English

Cover
Frontmatter
Contents
List of tables and figures
Acknowledgments
Introduction
WHY HAVE HIERARCHY?
Market failures and hierarchical solutions: The tension between individual and social rationality
Bargaining failure: Coordination, bargaining, and contracts
Voting failure: Social choice in a dictatorial hierarchy
MANAGERIAL DILEMMAS
Horizontal dilemmas: Social choice in a decentralized hierarchy
Vertical dilemmas: Piece-rate incentives and credible commitments
Hidden action in hierarchies: Principals, agents, and teams
Hidden information in hierarchies: The logical limits of mechanism design
Hierarchical failures and market solutions: Can competition create efficient incentives for hierarchy?
COOPERATION AND LEADERSHIP
The possibilities of cooperation: Repeated vertical dilemmas
The indeterminacy of cooperation: Conventions, culture, and commitment
The political economy of hierarchy: Commitment, leadership, and property rights
Epilogue: Politics, rationality, and efficiency
References
Name Index
Subject Index