Clubs and the cost of agency

Authors
Siqueira, K
Citation
K. Siqueira, Clubs and the cost of agency, PUBL CHOICE, 107(3-4), 2001, pp. 383-393
Citations number
14
Categorie Soggetti
Politucal Science & public Administration
Journal title
PUBLIC CHOICE
ISSN journal
00485829 → ACNP
Volume
107
Issue
3-4
Year of publication
2001
Pages
383 - 393
Database
ISI
SICI code
0048-5829(200106)107:3-4<383:CATCOA>2.0.ZU;2-W
Abstract
The paper investigates the impact of agency costs on club membership. Using a simple principal-agent model, under standard assumptions, the paper demo nstrates that increased agency costs associated with hidden action can lead to an expansionary bias.