Research Publications


Economics of Incentives and Organizations



(See also



Refereed Publications


1.     Profit with Purpose? A Theory of Social Enterprise (with T. Besley). American Economic Journal - Economic Policy. Volume 9, Number 3, August 2017, Pages 19-58.

2.     Thanks for Nothing? Not-for-Profits and Motivated Agents,  (with Hannes Mueller), Journal of Public Economics, Volume 95, Issues 1-2, Pages 94-105, February 2011.

3.     Competition and Incentives with Motivated Agents (with Tim Besley), American Economic Review, June 2005.

4.     Government versus Private Ownership of Public Goods, (with Tim Besley). Quarterly Journal of Economics, Vol. 116, No. 4, p.1343 1372, November 2001.

5.     Financially Interlinked Business Groups  (with Raja Kali) Journal of Economics and Management Strategy. Vol. 10, Issue 4, p. 591-619, Winter 2001.



Other Publications


1.     Economic Theories of the Social Sector: From Nonprofits to Social Enterprise. LSE Public Policy Review. 2021; 1(3): 2, pp. 19. (A substantially revised and shortened version of my chapter in The Nonprofit Sector: A Research Handbook the link to which is available below written for the general reader with many real-world examples).

2.     Economic Theories of the Social Sector: From Nonprofits to Social Enterprise, in W.W. Powell and P. Bromley (ed.s) The Nonprofit Sector: A Research Handbook, 3rd edition, Stanford University Press, 2020.

3.     Pro-social Motivation and Incentives, (with Tim Besley), Annual Reviews of Economics, Volume 10, pp 411-438, 2018.

4.     Public-Private Partnership for the Provision of Public Goods: Theory and an Application to NGOs (with Tim Besley), Research in Economics, Volume 71, Issue 2, June 2017, pp 356371 (Earlier version available here). 

5.     Bailouts and the Optimal Taxation of Bonus Pay, (with Tim Besley). American Economic Review, Papers and Proceedings, 103(3), p. 163167, May 2013.

6.     Status Incentives (with Tim Besley), American Economic Review, Papers and Proceedings, May 2008.

7.     Sorting with Motivated Agents: Implications for School Competition and Teacher Incentives, (with Tim Besley), Journal of the European Economic Association, Papers and Proceedings, 2006.

8.     Incentives, risk and accountability in organizations (with Tim Besley), in Organizational Encounters with Risk (ed.s) Bridget Hutter and Michael Power, Cambridge University Press, 2005.

9.     Who should provide public goods? A Perspective from the Theory of Organizations?, in Development, Displacement and Disparity - India in the Last Quarter of the Century, (ed.s) S. Marjit and N. Banerjee, Orient Longman, 2005.

10.  Incentives, Choice and Accountability in the Provision of Public Services, (with Tim Besley), Oxford Review of Economic Policy, Vol. 19 (2): Financing and Managing Public Services. 2003.


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Last modified: March 2021.

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