Centralization vs. Decentralization: A Principal‐Agent Analysis

Mariano Tommasi · Federico Weinschelbaum

109 citations0/0 files storedJournal of Public Economic Theory

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Local Government Finance and Decentralization Game Theory and Voting Systems Economic Policies and Impacts

Abstract

Abstract The decision to allocate policy jurisdictions to different levels of government is related to a number of trade‐offs between the advantages and disadvantages of centralized versus decentralized provision of public services. A trade‐off central to many discussions is that between the internalization of externalities under centralization versus an “accountability” advantage of decentralization. In this paper we formalize this trade‐off in the context of a class of principal–agent models known as common agency.

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References

1997A Survey of Corporate Governance 1956A Pure Theory of Local Expenditures 1966The Logic of Collective Action: Public Goods and the Theory of Groups.1986Large Shareholders and Corporate Control 1991Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design 2002Political Economics: Explaining Economic Policy 1999An Essay on Fiscal Federalism 1992Protection For Sale

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