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Internalizing Team Production Externalities through Delegation: The British Passenger Rail Sector as an Example

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  • RAFAEL HORTALA-VALLVE
  • MIGUEL SANCHEZ VILLALBA

Abstract

We show that in situations of team production, the associated externality between workers can be partially internalized via the delegation of authority of contracting rights, thus improving the overall efficiency of organizations. A delegated structure provides further incentives to individuals in higher tiers of the hierarchy because it makes them residual claimants. Our model sheds light on recent debates about the organization of the British passenger rail sector. Copyright (c) The London School of Economics and Political Science 2009.

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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 77 (2010)
Issue (Month): 308 (October)
Pages: 785-792

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Handle: RePEc:bla:econom:v:77:y:2010:i:308:p:785-792

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Cited by:
  1. Mehmet Barlo & Ayça Özdoğan, 2013. "The Optimality of Team Contracts," Games, MDPI, Open Access Journal, vol. 4(4), pages 670-689, November.
  2. Felli, Leonardo & Hortala-Vallve, Rafael, 2011. "Preventing Collusion through Discretion," CEPR Discussion Papers 8302, C.E.P.R. Discussion Papers.
  3. Barlo, Mehmet & Ayca, Ozdogan, 2012. "Team beats collusion," MPRA Paper 37449, University Library of Munich, Germany.

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