Broad Terms and Organizational Codes∗
نویسنده
چکیده
This paper studies organizations in which participants have common preferences but communication is costly. In this model, use words to describe similar information, but need not use precise words for frequent events and vague words for unusual ones. The model identifies a source of communication failure across units. It provides an argument for giving the best-informed agents decision-making authority. Journal of Economic Literature Classification Numbers: D23, D83, L23;
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