Authority and Communication in Organizations
研究委托人在何种条件下更倾向于将控制权委托给信息更充分的代理人，而非通过沟通来决策，并分析了保留否决权对委托人效用的影响。
This paper studies delegation as an alternative to communication. We show that a principal prefers to delegate control to a better informed agent rather than to communicate with this agent as long as the incentive conflict is not too large relative to the principal's uncertainty about the environment. We further identify cases in which the principal optimally delegates control to an “intermediary”, and show that keeping a veto-right typically reduces the expected utility of the principal unless the incentive conflict is extreme. Copyright 2002, Wiley-Blackwell.