Productivity and credibility in industry equilibrium.

I analyze a model of production in a competitive environment with heterogeneous firms. Efficient production requires individuals within the organization to take noncontractible actions for which rewards must be informally promised rather than contractually assured. The credibility of such promises o...

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Bibliographic Details

Published in:	RAND Journal of Economics (Wiley-Blackwell) Vol. 50; no. 1; pp. 121 - 147
Main Author:	Powell, Michael
Format:	Article
Published:	Wiley-Blackwell Spring2019
Subjects:	Production (Economic theory) Business enterprises Persons Equilibrium Rent charges (Feudal law)
Online Access:	View this record in EBSCOhost