Economics of Organizations Essay

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Universidad de Navarra Economics and Psychology of Organizations 2007-2008 Professor: Brice Corgnet. Email: bcorgnet@unav.es Office: 2941. Webpage: http://www.unav.es/ecoprof/bcorgnet Course webpage: http://www.unav.es/empresa/eorganization References: Most of the material for this course are included in the following essay: 1- Brice Corgnet and Pedro Mendi, Economics and Psychology of Organizations, lecture notes, University of Navarra, 2008. We mark with a star the sections that will be studied in class and consequently relevant for the final exam. 2- Paul Milgrom and John Roberts, Economics, Organizations, and Management, Prentice Hall 1992. Specific references may be useful for some chapters. Regarding the boundaries of the firm (part 2 ), the most useful reference is: 1- David Besanko, David Dranove, and Mark Shanley, Economics of Strategy, 2003. Concerning management of human resources (part 3 ), the most useful reference is: 2- Edward Lazear, Personnel Economics for Managers, 1995. Concerning the psychology of incentives and cooperation in organizations, a useful reference is: 3- Armin Falk, Behavioral Labor Economics, lecture notes IZA, 2006. Other references are: 4- Zoltan Acs and Daniel Gerlowski, Management and Economics and Organization, 1997. 5- Oliver Hart, Firms, Contracts, and Financial Structure, 1995. 1 Essay description. The main goal of this essay is to use the economic analysis to understand crucial aspects of organizations. In order to capture the main features of organizations we will use at the theoretical level techniques developed in Microeconomics and Game Theory. At the empirical level we will frequently refer to economic experiments. We will first present the existing theories of the firm before analyzing in a second part the boundaries of organizations. In the third part of this essay we will use principal-agent models in order to derive

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