组织的经济学与管理学（英文）ch05_Principal_agent_models教材教学课件.pptVIP

Chapter 5 Principal-agent models George Hendrikse;What is wrong with the fundamental welfare theorem / Coase theorem?;Problems with property rights are due to Inadequate institutions; Inefficient structure of property, i.e. income and decision, rights.;Inadequate institutions;Inefficient structure of property rights;One of the parties to an exchange/transaction has more complete knowledge than does the other, which asymmetry condition is costly to overcome and gives rise to a trading hazard. Sometimes markets fail for that reason. (Akerlof, 1970) Organisational responses often occur that s