Clubs and the Cost of Agency
The paper investigates the impact of agency costs on club membership. Using a simple principal-agent model, under standard assumptions, the paper demonstrates that increased agency costs associated with hidden action can lead to an expansionary bias. Copyright 2001 by Kluwer Academic Publishers
When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:107:y:2001:i:3-4:p:383-93. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.