We analyze the effects of the observed increased share of delegated capital for trading strategies and equilibrium prices. We introduce delegation into a standard Lucas exchange economy, where in equilibrium some investors trade on their own account, but others decide to delegate trading to professional fund managers. Flow-performance incentive functions describe how much capital clients provid...

Quantum computing has seen tremendous progress in the past few years. However, due to limitations in the scalability of quantum technologies, it seems that we are far from constructing universal quantum computers for everyday users. A more feasible solution is the delegation of computation to powerful quantum servers on the network. This solution was proposed in previous studies of blind quantu...

Most African states are unitary with political power vested in the central government. Laws and decisions concerning the public sector are enacted and enforced by the central government.1 Authority is delegated to junior government officials who implement policies within rigid guidelines. Provincial and district levels of government serve administrative roles but do not make laws, collect taxes...

Abstract Institutional investors can be segmented into that hold simple portfolios of traditional equities and bonds, manage complex strategies in public private markets. Investors implementing active portfolio management holding diversified bonds are more likely to invest alternative asset classes. The performance institutional assets is significantly lower than equities, suggesting accept ret...

Delegation is a pervasive phenomenon in firms, procurement contracting, financial and regulatory institutions. Owners frequently delegate management of the firm to top level managers, who in turn delegate management of divisions to middle level managers. In procurement contracting, the purchaser often contracts with a single ‘prime’ contractor, delegating the responsibility of subcontracting wi...