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This paper examines the process and outcomes of democratic decision-making in clubs where a club is defined by their sets of members whose preferences and decisions relate to the set of members in the club: the electorat...Read more...
Oliver Hart and John Moore
We are concerned with the design of a constitution for a firm - an ex ante contract which assigns residual rights of control (and possibly residual income rights) without reference to the issue to be decided. We focus at...Read more...