The Value Principle in Management Practices
The value principle in organizational economics states that the net market value of the goods that a firm sells is a key determinant of its organizational design. We survey and …
Patrick Legros
Professor of Economics (Emeritus)
Patrick Legros is Professor of Economics at the Université Libre de Bruxelles, and is affiliated with the research center ECARES within the Solvay Brussels School of Economics and Management.
Come together: Firm boundaries and delegation
We jointly study firm boundaries and the allocation of decision rights within them by confronting an incomplete-contracts model with data on vertical integration and delegation for …
laura-alfaro
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Task Discretion, Labor-market Frictions, and Entrepreneurship
An agent can perform a job in several ways, which we call tasks. Choosing agents tasks is the prerogative of management within firms, and of agents themselves if they are …
andrea-canidio
Prescription opioids and economic hardship in France: I. Natali et al.
ilaria-natali
Cheap Talk is not Cheap: Free versus Costly Communication
How do people communicate their intentions before making decisions that affect others? This paper explores this question in a setting where two players must independently choose …
hamid-aghadadashli
Let's Collude
Managers have imperfect information about each other’s willingness to collude and may signal this willingness through direct communication or market actions. Owners offer bonuses …
hamid-aghadadashli