- Search
Search
- LoginAccess your ApplicationFor current applicantsOr learn more about our programmes and applyAccess MyINSEADFor current participants and alumni
Related Faculty

Timothy Van Zandt
Professor of Economics
Book Chapter
Garicano L., Van Zandt T. (2012). Hierarchies and the Division of Labor. In The Handbook of Organizational Economics (pp. 604-654). Princeton University Press.
Knight (1921) saw the function of entrepreneurs (and others “of higher skill”) as making informed decisions in a world of uncertainty. Indeed, this would describe also the role of middle and low-level managers, their assistants, and the technicians who collectively manage a large organization through decentralized decision processes.