Bengt Holmström

On incentives and control in organizations

Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s

This paper describes and considers explanations for changes in corporate governance and merger activity in the United States since 1980. Corporate governance in the 1980s was do...

Agency costs and innovation

Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design

Journal Article Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design Get access Bengt Holmstrom, Bengt Holmstrom Yale University Search for o...

The firm as a subeconomy

This article explores the economic role of the firm in a market economy. The analysis begins with a discussion and critique of the property rights approach to the theory of the ...