Aggregate Information and Organizational Structures*
研究组织中顶层管理与多个拥有私人信息的子单元之间的信息流动，比较集中式与层级式沟通在信息利用和租金分配上的权衡，发现集中式在子单元高效可能性低时最优，层级式则相反。
We study information flows in an organization with a top management (principal) and multiple subunits (agents) with private information that determines the organization's overall efficiency. Under centralized communication, eliciting the agents' information may induce the principal to manipulate aggregate information, which obstructs an effective use of information. Under hierarchical communication, the principal concedes more information rent due to loss of control, but is able to use the agents' information more effectively. The trade‐off between the organizational structures depends on the likelihood that the agents are efficient. Centralized communication is optimal when such likelihood is low. Hierarchical communication, by contrast, is optimal when it is high.