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Author: Patrick Bolton
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Patrick Bolton and Chenggang Xu
This paper centres around the question of ownership of firms and managerial competition and how these affect manager and employees' incentives to invest in human capital. We argue that employee's incentives in human capi...Read more...
Patrick Bolton and Christopher Harris
This paper extends the classic two-armed bandit problem to a many-agent setting in which N players each face the same experimentation problem. The difference with the single-agent problem is that agents can now learn fro...Read more...
Patrick Bolton and Mathias Dewatripont
In this paper the internal organisation of firms is reduced to the organisation of a communication network. In the presence of information communication and processing costs it is important to design rules guiding which ...Read more...